LUXOTTICA GETS CREDIT FACILITY: Global eyewear powerhouse Luxottica Group SpA has established a new five-year credit facility worth approximately 1 billion euros, or $1.18 billion at current exchange rates, in an arrangement involving eight banks, including Bank of America, Citigroup and HSBC. A term loan of $325 million is slated for the company’s bid to acquire Cole National Corp. Another 405 million euros, or $478.1 million, will be used to refinance existing debt. A third tranche establishes a 335 million euros, or $395.5 million, revolving credit facility.
In Brief: Luxottica Gets Credit Facility
LUXOTTICA GETS CREDIT FACILITY: Global eyewear powerhouse Luxottica Group SpA has established a new five-year credit facility worth approximately 1 billion euros, or $1.18 billion at current exchange rates, in an arrangement involving eight...