United Kingdom : Kraft reportedly lines up $9 billion loan for Cadbury bid.Byline: babalu03 Kraft Foods Inc. /quotes/comstock/13*!kft/quotes/nls/kft (KFT KFT Korlátolt Felelõsségû Társaság (Hungarian: limited liability corporation) KFT Kraft Foods International (stock symbol) KFT Kilo-Feet KFT Kung Fu Tzu (Confucius) 26.67, -0.87, -3.16%) has obtained $9 billion in bridge financing from a group of nine banks to back its GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 10.2 billion ($16.7 billion) bid for the U.K.'s Cadbury PLC /quotes/comstock/13*!cby/quotes/nls/cby (CBY CBY Central Bank of Yemen CBY Camp Burn Yourself (Swedish alternative arts festival) CBY Suvorov Military School (Russian acronym) 50.17, -1.04, -2.03%) , Reuters news agency reported, citing bankers. The nine banks include lead underwriters Citigroup Inc. /quotes/comstock/13*!c/quotes/nls/c (C 3.97, -0.07, -1.73%) , Deutsche Bank AG /quotes/comstock/13*!db/quotes/nls/db (DB 70.87, +0.09, +0.13%) , HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) Holdings PLC /quotes/comstock/13*!hbc/quotes/nls/hbc (HBC HBC a definition for medical records to denote 'hit by car'. 55.48, +0.16, +0.29%) and Barclays PLC /quotes/comstock/13*!bcs/quotes/nls/bcs (BCS 21.88, +0.16, +0.74%) , the report said. Kraft needs to show the U.K.'s Takeover Panel that it has committed financing in place before Nov. 9, when it has to bid for a second time or walk away for six months, after Cadbury rejected its initial cash and share bid in September, the report said. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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