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RLPC-Adecco signs 850 mln euro syndicated loan
Fri Apr 18, 2008 4:22am EDT
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LONDON, April 18 (Reuters) - Swiss staffing group Adecco (ADEN.VX: Quote, Profile, Research) has signed an 850 million euro ($1.36 billion) multi-currency syndicated loan, the arranging banks announced.
The loan amount was increased from 750 million euros after an oversubscription.
The loan is split into two tranches, including a 300 million euro term loan A, which is due to be paid in full by Dec. 15 2008. It also includes a 550 million euro revolving credit facility with a five-year tenor.
The opening margin for the term loan is 32.5 basis points (bps) over EURIBOR and 40 bps for the revolver. The margin is thereafter linked to a leverage grid.
The utilisation fee on the revolver is 5 bps if drawings exceed 50 percent and the commitment fee is 25 percent of the applicable margin for the term loan and 33 percent for the revolver.
Two tickets were on offer, with lenders invited to commit 60 million euros for a participation fee of 17.5 bps or 30 million euros for 15 bps.
The facility was arranged by mandated lead arrangers and bookrunners Banc of America Securities, Calyon, Royal Bank of Scotland and Societe Generale.
Proceeds from the loan will be used for general corporate purposes, including refinancing an existing 580 million euro revolving credit from March 2003.
Adecco provides human resource services.
Waarvoor hebben ze de centjes nodig?
Manpouwer 11 april 55.02 28april 66.96 .
Er was een paar dagen geleden gespeculeerd of het een hamburger word of een Zwitserse kaas een cheeseburger is ook lekker .Samen bieden is tegenwoordig in zie abn heineken enz.Kijk vooral wie de geldschieters zijn.
vriendelijke groetjes Blacky