Bacardi set to serve loan mart $3bn deal but planned bond issue may need rating

20 Mar 2009

Bacardi, the Bermuda drinks distiller, has secured a $3bn refinancing loan from 12 banks and is set to launch the deal, which was signed last week, in April.

"Bacardi’s been working on this for a while and they’ll be relieved they’ve got it," said one banker close to the facility. "There are loads of banks at the top level, but we’ll still look to sell it down."

The facility is split between a $1bn bridge to bond ...

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