Germany : Merck Successfully Replaces Its 2 Billion Loan Facility.
Merck coordinated the transaction itself. Nineteen banks joined the syndicated loan facility, which was heavily oversubscribed and led to a corresponding scale-back of loan commitments.
"The closing of the new loan facility shows that Merck has a very good reputation among its banks owing to its strong position, and that a long-term loan commitment can be obtained with good terms and conditions despite the current financial market turbulence," said Matthias Zachert, CFO of the Merck Group.
The loan facility is available for general corporate purposes and can also be used for growth projects.
In recent months, the rating agencies Standard & Poor s and Moody s both upgraded Merck by one notch. Merck now has an A- rating from S&P and a B1 rating from Moody's. Both ratings are with a stable outlook.
2013 Al Bawaba (Albawaba.com)
Provided by Syndigate.info an Albawaba.com company
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|Date:||Mar 28, 2013|
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