Banks beef up pricing of Versatel loan and cut size for weary leveraged lenders

Merrill Lynch and Morgan Stanley were compelled this week to sweeten the pricing on the Eu935m leveraged loan for Versatel Deutschland, the German cable telecom company.

  • 21 Jul 2006

Unusually, the leads have also shaved Eu5m off each of the term loans 'B' and 'C' and Eu25m off the acquisition facility, after lenders hesitated to commit.

The flex — loan market jargon for a softening of structure or price during syndication — is further evidence that leveraged finance ...

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