Feb. 1 (Bloomberg) -- Apax Partners LLP started marketing 850 million Swiss francs of loans to fund its buyout of France Telecom SA’s Orange Switzerland mobile-phone unit, according to a person with knowledge of the transaction.
The loans include 450 million francs of six-year loans that will pay interest of 500 basis points more than benchmark lending rates, the person said. The remaining seven-year 400 million-franc term loan B has a 550 basis-point margin, and will also be offered in euros.
Citigroup Inc., Credit Suisse Group AG, Deutsche Bank AG, JPMorgan Chase & Co., Morgan Stanley and UBS AG are arranging the financing, the person said. The banks are holding an investor meeting Feb. 6 in London.
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