Linde reaps rating benefit to sign Eu2.5bn revolver
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 ...