Daily News: July 5, 2018

Rabobank, Santander, Others Support Sainsbury Acquisition of Asda


Reuters reported UK supermarket Sainsbury’s closed £3.5 billion ($4.5 billion) in syndicated loans in order to facilitate an acquisition of Walmart’s Asda, which is valued at £7.3 billion ($9.7 billion).

Reuters added Sainsbury will also increase its existing revolving facility from £1.45 billion ($1.92 billion) to £2 billion ($2.6 billion) .

According to Reuters, ABN AMRO, Banco Santander, Bank of China, BNP Paribas, Rabobank, Credit Agricole CIB, Deutsche Bank, HSBC, Lloyds Bank, MUFG, Morgan Stanley, NatWest, SMBC and UBS served as lead arrangers and bookrunners on the acquisition loans.