Votorantim Pushes Price on Jumbo Loan

Votorantim Pushes Price on Jumbo Loan

M&A

Brazil's Grupo Votorantim launched Friday a $1.3bn 3-piece syndicated loan to take out two bridge facilities it raised with WestLB and Citi for acquisitions done in recent months. The deal faces rough market conditions and liquidity constraints that are forcing lenders to reconsider pricing, even for investment grade blue chips like Voto. While the spread is wider than what the company would have got just six months ago, it is several basis points tighter than some market participants expected g

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