Mandated arranger Sumitomo has launched syndication of the Eu87m five year EIB guaranteed facility for Czech power utility CEZ. Three tickets are on offer: co-arranger for Eu10.8m for 25bp; manager for Eu8.7m for 20bp; and participant for Eu6.5m for 15bp. Commitments are due by the end of the first week of March. The deal carries a guaranteed commission of 60bp. The borrower last tapped the market in November 1998 with a Eu143m five year term loan. Mandated arrangers were BayernLB, Deutsche Bank and Sumitomo. The deal paid a margin of 50bp over Libor.
February 21, 2003