Italian eyewear giant Luxottica has mandated a group of banks to arrange, underwrite and provide credit facilities to finance its acquisition of US firm Oakley for around $2bn.
Italian eyewear giant Luxottica has mandated a group of banks to arrange, underwrite and provide credit facilities to finance its acquisition of US firm Oakley for around $2bn.
The agreement will consist of five-year loan of $1.5bn and a short-term bridge loan of $500m.
Enrico Cavatorta, chief financial officer of Luxottica Group, commented: 'We are pleased to see such a strong show of confidence in our group from these leading international banks. The terms of these facilities reflect the ability of our group to secure favourable conditions for our financing needs.'