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RLPC-Nestle increases loan to 6.5 bln euros - company

Thu Nov 12, 2009 7:29am EST

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LONDON, Nov 12 (Reuters) - Nestle (NESN.VX), the world's biggest food group, has increased its syndicated loan to 6.5 billion euros ($9.75 billion), the company said on Thursday.

The 364-day revolving credit was increased from an original target of 4.75 billion euros after a strong response from lenders despite a drawn interest margin of 12.5 basis points (bps), which is the lowest seen in Europe this year.

The loan, which supports the company's global commercial paper programme, is expected to be undrawn and will pay lenders a commitment fee of only 4bps, several bankers said. ($1=.6668 euros) (Reporting by Tessa Walsh ; Editing by Greg Mahlich)



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