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Nine banks lend Sanofi €12bn for Aventis bid

Sanofi-Synthélabo, the French pharmaceutical company, has lined up a syndicate of nine banks to fund €12bn of its €43bn hostile takeover of Aventis.

The €12bn loan comprises three tranches of €4bn each - a one year term-loan, a three-year term loan and a five-year revolving facility and represents Sanofi's first significant foray into the debt market.

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