RLPC - REWE launches 1.75 bln euro loan refinancing
LONDON Aug 14 (Reuters) - German retail group REWE has launched syndication of a 1.75 billion euro ($2.32 billion) revolving credit facility to refinance an existing 2 billion euro facility that is due to mature in June 2014, the company said on Wednesday.
The new self-arranged loan has been launched to REWE's relationship banks via coordinating banks Bank of Tokyo-Mitsubishi UFJ, Commerzbank and UniCredit Bank.
The financing is for five-years and includes two one-year extension options. The loan pays a margin of around 70 basis points over EURIBOR, banking sources said.
REWE's existing loan, which was arranged in June 2007 with a syndicate of 28 banks, was also for five years with two one-year extension options.
The first one-year extension option was exercised in 2008, but the exercise of the second extension option was postponed to 2010 after the onset of the financial crisis, a banking source said previously. [ID: nRLP01970a] ($1 = 0.7555 euros) (Editing by Tessa Walsh)
- Target holiday cyber breach hits 40 million payment cards
- UPDATE 3-Saab wins Brazil jet deal after NSA spying sours Boeing bid
- Special Report: Why Ukraine spurned the EU and embraced Russia
- Zuckerberg to sell Facebook shares worth about $2.3 billion
- Facebook, Zuckerberg, banks must face IPO lawsuit: judge