Neopost Obtains 500 Million-Euro Debt Facility to Replace LoansStephen Morris
Neopost SA, a French supplier of mail-room equipment, got a 500 million-euro ($667 million) credit line to replace maturing debt.
The five-year loan pays an interest margin of 80 to 135 basis points more than the European interbank offered rate if drawn in euros, the Bagneux, France-based company said in a statement distributed by Business Wire. If drawn in dollars the margin is 50 basis points, it said. A basis point is 0.01 percentage point.
It replaces a 133 million-euro private placement provided by Credit Agricole SA maturing December 2012 and a 675 million-euro revolving credit facility due June 2013, the company said.
BNP Paribas SA, Credit Agricole SA, HSBC Holdings Plc, Natixis SA and Societe Generale SA arranged the deal, and were joined by Commerzbank AG, Credit Industriel et Commercial, Svenska Handelsbanken AB, Barclays Plc and Credit du Nord SA, according to a separate e-mailed statement from BNP.
The facility was oversubscribed and lenders’ commitments were reduced, the bank said.