TUI AG: Syndicated EUR 800,000,000 Revolving Credit and GBP 345,000,000 Bonding Facilities
Bayerische Hypo- und Vereinsbank AG ("HVB Group"), Citigroup Global Markets Limited, The Royal Bank of Scotland and WestLB AG (the "Mandated Lead Arrangers") are pleased to announce that the syndication of a 3 year EUR 800 million Syndicated Revolving Credit and a 1.5 year GBP 345 million Bonding Facility (the "Facilities") for TUI AG and TUI Northern Europe Ltd. has been successfully closed.
The Facilities were well received in the market and were oversubscribed with 14 international banks joining the Mandated Lead Arrangers (Commerzbank AG, BayernLB, NordLB, KfW, DZ Bank, BBVA, Dresdner Bank, SEB, Credit Lyonnais, BoTM, Merrill Lynch, SG, AIB, IKB). The full list of lenders will be released following the signing of the Facility. As the Facilities will not be increased, banks are due to be scaled back.
The facility agreement was signed on Thursday, 18th September 2003.