Bacardi seeks $3b in loans from lenders
LONDON (Reuters) - Bermuda-based drinks maker Bacardi is seeking $3 billion of loans, including a bridge loan to a bond, from its lenders, banking sources said on Friday.
The sources said syndication will begin shortly.
Arrangers of the facilities are Bank of America, Bank of Tokyo-Mitsubishi UFJ, Barclays, BNP Paribas, BBVA, Calyon, Citigroup, Intesa Sanpaolo, Lloyds, Royal Bank of Scotland, Santander and Scotiabank. The loan is split into a three-year $1 billion term loan facility, a three-year $1 billion revolving credit facility and a $1 billion 13-month bridge-to-bond financing.
The drinks maker will use $2 billion to refinance the $1.95 billion it borrowed to back its purchase of Grey Goose Vodka in 2004.
No one from Bacardi was immediately available to comment.