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Amadeus signs EUR2.7bn refinancing agreement

18-May-2011 11:52 AM

Amadeus IT Holding signed a EUR2.7 billion credit refinancing agreement to help it cut the cost of debt (Reuters/Bloomberg, 17-May-2011). The credit facility is structured into four tranches and includes a EUR900 million loan maturing in four-and-a-half years, bridge loans of a combined EUR1.6 billion and a revolving credit line of EUR200 million. The credit facility is managed by BBVA, Bank of Tokyo-Mitsubishi, Deutsche Bank London Branch, ING Belgium, JP Morgan, Morgan Stanley Senior Funding, Natixis and Royal Bank of Scotland. Amadeus will use the new facility to obtain “more flexibility through extended maturity periods and improved terms and conditions,” said Chief Financial Officer  Ana de Pro. Amadeus net debt as of 31-Mar-2011 was EUR2.44 billion.