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  • EuroWeek has been told that the leverage ratios for the debt facilities backing the Candover and Cinven led buy-out of Gala is six times total net debt to Ebitda and 5.4 times senior net debt to Ebitda. It is thought that the deal also includes a Eu300m mezzanine facility, but the arrangers have not confirmed this.
  • Amount: A$300m Rating: Standard & Poor's
  • According to bankers the £650m five year facility for Gallaher will be placed among close relationship banks as a club-style facility. Targeted banks are ABN Amro, BNP Paribas, BayernLB, JP Morgan, Mizuho, RZB, Royal Bank of Scotland and WestLB.
  • Rating: Aaa/AAA Amount: Eu900m
  • Rating: Aaa/AAA/AAAA Amount: Sfr200m (fungible with Sfr300m issue launched 28/01/03)
  • Rating: Aaa/AAA/AAA Amount: $500m
  • Rating: Aa3/AA- Amount: Eu750m
  • Bankers say that final details for DaimlerChrysler's Eu13bn revolving credit facility have not yet been finalised. Deutsche Bank, JP Morgan, ABN Amro, Citigroup/SSSB and HSBC are said to have the verbal mandate for the loan, which will be split between 364 day and five year tranches offering an initial margin of around 35bp. The structure and pricing of the facility will be in line with that seen on the jumbo Eu15bn revolvers for E.On and Volkswagen.
  • Amount: ¥150bn Rating: S&P/R&I
  • Rating: A1/AA+/AA- Amount: Eu1bn
  • Mandated arrangers Bank of Tokyo-Mitsubishi (bookrunner), Citigroup/SSSB (bookrunner) and National Bank of Greece have closed syndication of the $200m three year dual-tranche bullet term loan for Hellenic Petroleum. The deal has been oversubscribed to $295m and the borrower has decided to accept an increase of up to $250m. For details see EuroWeek 788.
  • Rating: Aaa/AAA Amount: R200m