Arcelor and Linde refis to test loan market

Linde and ArcelorMittal both took advantage of improved market conditions this week to launch refinancings of forward starts signed last year, but bankers said that both deals could, for different reasons, prove to be a challenge for the still developing market.

  • 23 Apr 2010

While the three year refi from steel company Arcelor could test the market’s appetite for less stable credits after falling profits last year forced the company to rapidly deleverage, some bankers suggested that Linde was pushing lenders with the skimpy margin on its Eu2.25bn five year facility.

"The ...

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