Picard Surgelés revolver up Eu20m in Eu975m deal
The revolver backing the Eu1.5bn buy-out of Picard Surgelés, the French frozen foods company, has been increased to Eu50m from Eu30m. Meanwhile, syndication of the Eu675m senior debt facility, which comprises a Eu225m six year ‘A’ tranche and a Eu400m seven year ‘B’ piece, will be launched on Friday at a bank meeting in Paris.
Citi, Crédit Agricole, Credit Suisse, Morgan Stanley and Société Générale are underwriting the Eu675m debt package while Bank of Tokyo-Mitsibushi UFJ, Mizuho and Rabobank have joined as mandated lead arrangers.
Citi, Crédit Agricole, Credit Suisse and Morgan Stanley are underwriting an additional Eu300m bridge to bond facility.The Eu225m ...