Home Credit BV completed syndication of a €650 million, two-year term loan facility from 18 financing institutions.
The facility, which has a one-year extension option, was initially marketed at €500 million before being upsized to €650 million. It was priced at 400 basis points above the Euro Interbank Offered Rate and was 47% oversubscribed.
Home Credit mainly intends to use proceeds from the facility to refinance an existing €300 million facility and to finance equity investments in its Asian subsidiaries.
HSBC Bank Plc served as global coordinator and, along with Industrial and Commercial Bank of China Ltd., ING Bank NV, Komercní banka a.s. and Société Générale's London branch, as book runners.