The drinks distribution company, Maxxium Worldwide, has signed a three-year Multi-Currency Revolving Credit Facility with Commerzbank Securities, HSBC Bank plc and SG Corporate and Investment Banking.
The transaction was oversubscribed at syndication achieving a 100% hit rate. As a result, Maxxium has elected to take a part of the over-subscription and increase the facility from €180m to €200m. Notwithstanding the increase, lenders were scaled back, the company said in a release.
The purpose of the facility is the refinancing of Maxxium’s €180m RCF dated November 2000 and for general corporate purposes.
Maxxium said the deal was syndicated on a best efforts basis with all three MLAs acting as bookrunners. Commerzbank acted as Documentation Agent and HSBC Bank plc as Facility Agent.
The transaction carried a margin of 85 basis points per annum.
The complete list of banks joining the syndication is: Mandated Lead Arrangers; Commerzbank AG; HSBC Bank plc; SG CIB; Arrangers; ABN AMRO Bank N.V; Bank of Scotland; Fortis Bank; Lloyds; TSB Bank plc; Natexis Banques Populaires; Rabobank Nederland; The Royal Bank of Scotland plc; Scotiabank Europe plc; Skandinaviska Enskilda Banken AB (publ); Co-Arrangers; SANPAOLO IMI p.A; Westpac Banking Corporation.
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