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Crédit Agricole CIB accompanies eAccess in a new syndicated facility
In April 2011 Crédit Agricole CIB, together with Mizuho Bank, SMBC and ING, was mandated as initial mandated lead arranger and coordinator of a 5-year syndicated senior secured term loan facility of JPY 165 billion for eAccess Ltd., the 4th mobile operator in Japan.
The facility aims at refinancing the existing debt at the company, closing of which took place on March 31, 2011.
On April 1, in addition to the syndicated loan, Crédit Agricole CIB, alongside ING and UBS, acted as joint bookrunner for a EUR/USD 7-year unsecured high yield bond issuance for eAccess Ltd., successfully raising a total of circa USD 700 million. The proceeds were used to reduce the syndicated loan amount.
This milestone transaction was executed in the midst of the earthquake and Fukushima events and showed the strong determination of both teams at eAccess and Crédit Agricole CIB.