05 August 2003 16:21 [Source: ICIS news]
LONDON (CNI)--German specialty chemicals producer Degussa closed a Euro2bn ($2.3bn) syndicated loan on Tuesday.
The loan, first announced in early July, comprises a Euro1.0bn 364-day tranche and a Euro1.0bn five-year tranche.
Degussa said the financing will enhance the maturity profile of its existing debt as well as safeguard liquidity.
The arrangers of the deal were BNP Paribas, Commerzbank, Dresdner Kleinwort Wasserstein and JP Morgan.
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