Linde reaps rating benefit to sign Eu2.5bn revolver

11 May 2010

German gas company Linde has completed the refinancing of its BOC acquisition facility, signing a five year Eu2.5bn revolver yesterday.

The margin on the new loan is linked to a ratings grid, and the company will pay 65bp since Moody’s upgraded it from Baa1 to A3 in April. Standard & Poor’s rates it A-.

The margin is 80bp for a Baa1/BBB+ rating.

“This new syndicated credit facility contains ...

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