SAP loan gets 100% hit rate, Meda expected to follow suit

Three darts in bullseye 230x150
By Richard Metcalf
23 Oct 2014

SAP, the German software firm, closed syndication of the €7bn bridge facility for its $8.3bn acquisition of US expenses software firm Concur at the end of last week. It was the latest in a series of deals to obtain the participation of all the invited banks, fueling expectations that upcoming deals will also be popular.

The successful syndication, co-ordinated by Deutsche Bank, follows similar transactions for ZF Friedrichshafen and Merck KGaA, each of which had a 100% hit rate with banks.

German automotive supplier ZF Friedrichshafen had to turn away dozens of banks that ...

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