Merck surprises by leaving DB out of loan for Serono

  • 29 Sep 2006

German pharmaceutical company Merck will enter the loan market next month with a Eu11.5bn loan to back its merger with Swiss biotech firm Serono.

Dresdner Kleinwort and Société Générale will be bookrunners, with Bear Stearns as mandated lead arranger. The three MLAs will fully underwrite the facility.

The loan is ...

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2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

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4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%