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German media company Bertelsmann's Eu4.5bn bridge loan has been launched by bookrunners Barclays Capital, BNP Paribas, Deutsche Bank and Royal Bank of Scotland.

The facility will fund a share buyback scheme where Bertelsmann will buy shares from Groupe Bruxelles Lambert, the investment vehicle part owned by Belgian billionaire Albert Frere.

The loan is split into a Eu2bn tranche 'A' that will not be syndicated, and a Eu2.5bn tranche 'B' that will be sold to relationship banks.