Initial mandated lead arrangers and bookrunners ABN Amro, Calyon and ING have closed syndication on a US$250mn syndicated term loan facility for Russian firm Wimm-Bill-Dann Foods (WBD). ING is the documentation and facility agent.
The facility is being used to refinance the borrower's long-term Eurobond which is maturing on May 14, as well as for general corporate purposes.
The loan carries a three-year tenor with bullet repayment, and it pays a margin of 1.75% per year over libor.
During syndication, the deal was well-received and raised an oversubscription, however the facility was not increased.
Joining the deal as a mandated lead arranger is Orgresbank, part of Nordea. Lead arrangers are EFG Eurobank and Intesa Sanpaolo. Soci&eaute;té Générale has joined as co-arranger, while lead managers are Alpha Bank, Banco Nacional Ultramarino, Svenska Handelsbanken, Taiwan Co-operative Bank and Bank Sinopac.
WBD Foods is a producer of dairy, baby food and beverage products in Russia and the CIS.
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