ARRANGERS of the troubled £500m debt package that forms part of the transaction supporting the creation of the HMV Media Group have relaunched the deal to potential co-lead arrangers and lead arrangers. Merrill Lynch and SBC Warburg Dillon Read have greatly amended not only the debt package but also the entire transaction. The debt package will be offered to sub-underwriters in smaller amounts than the original deal - takes of £60m and £40m were on offer to co-lead arrangers and co-arrangers respectively, paying 200bp and 225bp over Libor respectively. Now, takes of £50m and £30m have been offered instead.
April 24, 1998
