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Ball syndication for new credit facilities

09 February 2016 13:50

Ball has announced the start of syndication for new revolving and term loan senior secured credit facilities that are expected to refinance its existing revolver and bridge term loan facilities entered into on 19 February 2015.

The new approximately $3.9 billion senior secured credit facility will mature in 2021.

The new term loan credit facilities will, when finalised, represent the final portion of permanent financing related to Ball's proposed offer for Rexam and are expected to reduce the bridge loan term facility accordingly.

Ball expects to close on its proposed offer for Rexam in the first half of 2016.

At 1:50pm: (LON:REX) Rexam PLC share price was +2.75p at 589.75p

Story provided by StockMarketWire.com

Related Company: REX

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