RLPC-Rexel completes Hagemeyer acquisition loan
LONDON, Sept 25 (Reuters) - French electrical goods retailer Rexel (RXL.PA) has completed a 3.28 billion euro ($4.83 billion) syndicated loan backing its acquisition of Dutch peer Hagemeyer, the arranging banks said on Thursday.
The loan was originally underwritten at 5.4 billion euros, but following asset disposals to Rexel's bid partner Sonepar, the loan was reduced to 3.28 billion.
Arranging banks on the loan were Calyon, Credit Mutuel-CIC, HSBC France, ING, Natixis, and Royal Bank of Scotland.
A group of international banks joined the financing on September 2.
Rexel and Sonepar entered into an agreement under which Rexel launched a public takeover for Hagemeyer in November 2007. Rexel agreed to transfer parts of Hagemeyer to Sonepar.
Hagemeyer distributes electrical materials and products for safety, maintenance, repair and operations in the construction and installation business. (Reporting by Alasdair Reilly; Editing by Quentin Bryar)
