Bloomberg News

Sanofi Said to Seek 3 Billion-Euro Credit Line to Refinance

October 13, 2011

(Updates with company comment in fourth paragraph)

Oct. 13 (Bloomberg) -- Sanofi, France’s biggest drugmaker, plans to raise a 3 billion euros ($4.12 billion) credit line to refinance a deal maturing next year, according to three people with knowledge of the situation.

Royal Bank of Scotland Group Plc, BNP Paribas SA and Societe Generale SA are coordinating the one-year transaction that can be extended by a maximum of two years, said the people, who declined to be identified because the deal is private.

The bank line will replace Sanofi’s 5.8 billion-euro revolving credit signed in 2005, said the people.

Jean-Marc Podvin, a spokesman for the Paris-based company, declined to comment.

--Editor: Faris Khan

To contact the reporters on this story: Patricia Kuo in London at pkuo2@bloomberg.net; Stephen Morris in London at smorris39@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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