Caisse d’Amortissement de la Dette Sociale (Cades) is looking to raise up to Eu20bn through the syndicated loan market in the new year, as the French agency looks to tap new sources of funding to meet its increased target of Eu70bn for 2011.
The new credit facility, which will be arranged through co-ordinator Société Générale, will be sized between Eu10bn and Eu20bn, according to loans bankers familiar with the transaction.The Aaa/AAA/AAA borrower has tapped the loan market before, signing a one year Eu10bn revolver through BNP Paribas, Crédit Agricole, HSBC, JPMorgan,
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