Bayer awards mandate for Aventis CropScience financing

Bank of America, Deutsche Bank and JP Morgan have won the highly prestigious mandate from Bayer to finance the German pharmaceuticals company's €7.3bn ($6.5bn) acquisition of Aventis CropScience.

The three banks will initially provide a €6bn credit facility as bridge financing for the acquisition, which is expected to gain approval from European Union antitrust authorities in the first quarter of 2002.

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