Banks take a hit on Boels' €1.6bn M&A loan

摘要

The five banks that underwrote a €1.61bn acquisition loan for Dutch equipment rental firm boels are set to lose money as they sell the debt cheaply to reduce risk. Credit Suisse, ING, ABN AMRO, Rabobank and BNP Paribas are leading the underwritten financing, which was initially launched for syndication as a €1.61bn Term Loan B in February but was postponed in March due to the outbreak of the Covid-19 pandemic.