Calyon and Morgan Stanley acted as lead arrangers and underwriters on a €7.9 billion ($9.6 billion) debt facility for Suez. The facility is being used to part-fund Suez's €11 billion offer for a stake in Belgian utility Electrabel. The banks also led a €2.3 billion rights issue by Suez as part of the financing. Freshfields Bruckhaus Deringer advised the banks. Linklaters acted for Suez with Weil Gotshal & Manges providing French law advice. Eubelius was Belgian law counsel to Electrabel.
September 30 2005