Cadbury Schweppes has signed a credit agreement alongside a consortium of five banks, marking the start of its planned demerger.
The banks – JP Morgan Chase, Bank of America, Goldman Sachs, Morgan Stanley and UBS – have agreed to grant the company £1.9 billion of debt financing to reassure investors and allow the two separate groups to maintain an investment grade credit rating. The group is to separate into two – the confectionery business to…
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