Ceva Santé drops dollar, sells cov-lite all in euros

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By Olivier Holmey
27 Mar 2014

France's Ceva Santé Animale has dropped the dollar tranche from its €818m loan package after receiving strong support from investors in Europe, making it the first new euro-only covenant-lite deal since the financial crisis.

Ceva had been considering relying only on euro lenders if the loans proved popular enough with them, GlobalCapitalreported on Tuesday. The following day, the borrower removed the dollar tranche from its deal.

The veterinary vaccines producer, which makes most of its revenues in euros, favoured a ...

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