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VNU Credit Agreement
VNU, owner of AC Nielsen and others, has announced an agreement with a syndicate of Banks for a EUR 1,000 million revolving credit facility, intended 'for general corporate purposes, including working capital and acquisition financing'. Rumours about possible acquisition targets are already rife following the sale of the World Directories group a month ago.
The new facility, for which ABN AMRO, BNP Paribas, ING bank, JPMorgan and Rabobank are Mandated Lead Arrangers, has a maturity of 5 years, with two extension options potentially raising the maturity to seven years, and replaces smaller facilities totalling EUR 740 million from 2001 and 2002, on which nothing is currently drawn.
VNU's online home is at www.vnu.com
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