Deoleo drops dollar tranche on €600m loan

By Ross Lancaster
02 Jun 2014

Deoleo, the Spanish olive oil producer, has dropped the dollar tranche of its €600m refinancing loan, which will be allocated on Monday.

Deoleo expected withholding tax payments of between 10% and 25% on the dollar debt. “Economically it’s cheaper for them to do an all euro deal and we raised enough demand that that’s going to achievable,” said a loans banker on the deal.

The borrower had initially prepared to raise ...

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