Clearstream Said to Replace 750 Million-Euro Revolving Credit

Clearstream Banking SA, part of the financial-settlement company owned by Deutsche Boerse AG (DB1), is replacing a 750 million-euro ($975 million) credit line, two people with knowledge of the matter said.

The three-year facility is due to sign later this month, said the people, who asked not to be identified because the transaction is private. Commerzbank AG and BNP Paribas SA are coordinating the loan for the Luxembourg-based company, they said.

The revolving credit will replace a one-year deal of the same size and pays interest linked to Clearstream’s ratings, the people said. The commitment fee for undrawn portions of the debt is equal to 35 percent of the margin, they said. Under a revolver, money repaid can be borrowed again.

Clearstream is rated AA by both Standard & Poor’s and Fitch Ratings, their third-highest investment-grade rank, data compiled by Bloomberg show.

To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.