Luxottica 2 billion of funding for Oakley

According to what we learn from a note, Luxottica Group SpA has commissioned a group of leading banks to arrange, underwrite and provide credit lines worth a total of U.S. $ 2 billion. These credit lines are made of a Amortising Term Loan and Short Term Loan.
To get more details, we know that the first Financing, Amortising Term Loan, is a credit line of U.S. $ 1.5 billion for a period of five years, with the possibility of extending the deadline twice a year each. Regarding the conditions do know that come together in an interest rate equal to LIBOR plus a spread between 20 and 40 basis points, based on the variable debt / EBITDA.
To be able to put all this are surely the banks that underlie it: Citigroup , Intesa Sanpaolo, Royal Bank of Scotland and UniCredit Market & Investment Banking.
The second financing, Short Term Bridge Loan, we can tell you that consists of a line of credit of U.S. $ 500 million and will be partly refinanced by a U.S. private placement under favorable market conditions. In this case the banks will sign the credit line will be Bank of America and UniCredit Market & Investment Banking.
All these facilities are subject to the finalization of the closure of 'acquisition of Oakley Inc.
The head of 'finance office of Luxottica Group, Enrico Cavatorta, ¬ thing has commented: "We intend to use these funds to meet the financing requirements to the proposed acquisition of Oakley. We are very pleased with the implicit recognition solidity of our financial part of this group of leading banks. Moreover, this shows the strength of the Group's ability to raise resources, financial market conditions favorable. "

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