Bloomberg News

Reseau Ferre de France Signs 1.25 Billion-Euro Loan to Refinance

July 20, 2012

Reseau Ferre de France, a French railroad operator, signed a 1.25 billion-euro ($1.5 billion) revolving credit to refinance a facility expiring in December.

RFF increased the five-year credit line from 1 billion euros after lenders offered more than the Paris-based company sought, according to an e-mailed statement from Barclays Plc (BARC), one of the arrangers of the financing.

The loan replaces a 1.25 billion-euro credit line signed in 2007 that paid an initial interest margin of 7.5 basis points more than benchmark rates, according to data compiled by Bloomberg. A basis point is 0.01 percentage point.

Barclays, Credit Agricole SA (ACA), Credit Suisse Group AG, Natixis SA and Societe Generale SA arranged the facility as bookrunners. Banco Santander SA (SAN), BNP Paribas SA, Deutsche Bank AG, Goldman Sachs Group Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Morgan Stanley and Royal Bank of Canada joined the wider banking group as mandated lead arrangers.

RFF has about 31 billion euros of bonds outstanding, Bloomberg data show, and sold 100 million euros of 20-year structured notes in April. RFF Chief Financial Officer Alain Quinet said in January that the company’s debt rose 1.2 billion euros to 28.6 billion euros in 2011.

To contact the reporter on this story: 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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