The facility includes a €1.8bn, one-year bullet term loan with a 364-day extension option and a €2.3bn, two-year bullet term loan with a 364-day extension option, plus others. A bank presentation is scheduled to take place in Paris on January 16.
Banks are being invited to join at three levels, with lenders invited to commit €500m as mandated lead arrangers, €225m as lead arrangers and €100m as arrangers. Proceeds will also be used to refinance some of the existing debt at the Orascom level, a banker said.
