Tenaris Unit Closes Loan

Maverick Tube Corporation, a part of the Tenaris group, has closed a $350m, 3-year amortizing syndicated loan, according to sources familiar with the matter. The deal pays Libor+225bp The oversubscribed transaction included participation from 11 banks. Santander and Standard Chartered were senior MLAs, with Natixis and Wells Fargo as MLAs. Credit Agricole, Citi, JPMorgan, Bank of Tokyo-Mitsubishi and Itau were joint bookrunners, Scotia acted as Co-Arranger and Banco do Brasil was a participant. The deal is backed by Tenaris’ Hydril Company, which was acquired in 2007. Tenaris acquired US-based Maverick in 2006.