After raising $200 million in May, the electronics giant is back in the loan markets again. Mandated arrangers CitiSSB, Kookmin Bank and Shinhan Bank launched a $200 million dual-tranche loan-style FRN into general syndication last week.
Split equally, the current transaction pays a spread of 50bp over Libor for the two-year tranche and 60bp over Libor for the three-year tranche. The deal has no guarantor and was launched directly into general syndication, which is slated for close on October 4.
Marketed on four levels, banks joining the deal on the highest level as co-arrangers with commitments of $20 million or above receive management fees of 42bp all-in of 71bp for the two-year tranche...
