Rexel to add on

Electronics distribution group Rexel has mandated JPMorgan to arrange a US$785m financing package to support its acquisition of GE Supply. The facility will be structured as an add-on to Rexel’s €1.502bn 2005 buyout loan with new syndicated facilities totalling US$585m.

Rexel is paying US$725m for GE Supply and the acquisition is expected to close in early August.

A private equity consortium including Clayton, Dubilier & Rice, Eurazeo and Merrill Lynch Private Equity bought out Rexel last year from retailer Pinault Printemps Redoute.