Cadbury seeking forward start loan
British confectionery firm Cadbury is seeking to extend part of a £1 billion revolving credit facility, which is due to mature in March 2010, according to Reuters.
In January, Cadbury agreed a new 300 million loan covering the period of the sale of its Schweppes Australia unit. The unit was sold in April to Asahi Breweries for approximately £550 million generating proceeds of around £475 million.
Cadbury spun off its North American beverage business Dr Pepper Snapple last May, and agreed in December to sell its Australian beverage business to complete its exit from soft drinks and to focus exclusively on confectionery.
