X5 Announces that Syndicated Loan for the USD 1,1 billion Has Been Launched
25 Jan 2008
Amsterdam, 25 January 2008 - X5 Retail Group N.V. (the ‘Company’ or the ‘Group’), Russia's largest food retailer in terms of sales (LSE ticker: “FIVE”), announced today that syndication for the USD 1,100,000,000 3 year Term Loan Facility (the ‘Facility’) for the Company has been launched by BNP Paribas, CALYON, HSBC Bank plc, ING Bank N.V. and Raiffeisen Zentralbank Österreich AG (RZB) (each a “Bookrunner”). The Facility was fully pre-funded by the Bookrunners. There will be a bank meeting held in London on January 29, 2008.
Banks are invited to join the Facility at one of the following three levels:
|
Title |
Amount |
|
Lead Arranger |
USD 75,000,000 or more |
|
Arranger |
USD 50,000,000 |
|
Co-Arranger |
USD 25,000,000 |
Societe Generale joined the transaction prior to the launch of syndication as Mandated Lead Arranger (together with the Bookrunners, the “Initial Mandated Lead Arrangers”).
As X5 Retail Group announced on 18 December 2007, the Facility pays a margin of 225 bps p.a. over LIBOR out of the box for the first year. Subsequently, the margin will move in accordance with a Net Debt/EBITDA grid with a maximum margin at the top of the grid of 200 bps p.a. over LIBOR.
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