Electrolux gets loan, plans bond and rights

Electrolux vacuum resized
By Richard Metcalf
11 Sep 2014

Swedish kitchen appliance maker Electrolux has obtained a $3.3bn committed bridge facility for the full amount it agreed this week to pay for the acquisition of GE Appliances. The company plans to replace the facility gradually with $2.5bn of bonds and an $800m-equivalent rights issue.

Deutsche Bank and SEB have co-underwritten the bridge loan for the deal, the largest cross-border acquisition by a Swedish company since 2009.

In a conference call on Monday morning, following the announcement of the acquisition, Electrolux's CFO Tomas Eliasson said that the maturity of the loan would ...

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