Daily News: June 23, 2014

BofA Merrill, Others Re-Arrange Master Blenders’ Loan

Reuters reported banks changed the terms on a 7.6 billion euro ($10.36 billion) equivalent merger and refinancing loan for DE Master Blenders’ after investors protested about delayed fee payments. Arranging banks Bank of America Merrill Lynch, JP Morgan and Morgan Stanley reportedly adjusted the deal to guarantee the fee payments.

According to Reuters , investors were unhappy that fee payments were conditional on the completion of the merger between DE Master Blenders’ and the coffee business of Mondelez International.

To read the entire Reuters article, click here