Cadbury readies cheap loan for $4.2bn Adams purchase

20 Dec 2002

UK food and drink group Cadbury Schweppes this week announced its proposed $4.2bn cash acquisition of US confectioner Adams from Pfizer. The takeover will be financed by a $6.1bn syndicated loan.

As first revealed in EuroWeek 783, arrangers Bank of America, BNP Paribas, HSBC, Lloyds TSB and the Royal Bank of Scotland have jointly underwritten the facility. Initial margins are 42.5bp over Euribor on a $1.6bn 364 day tranche 'C' and 55bp over on a $2.5bn five year ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial