In Brief: SocGen Closes Financing for Redskins Deal

to help finance Daniel Snyder's purchase of the Washington Redskins football team.

The final 25-member syndicate includes nine commercial banks, five insurance companies, 10 investment funds, and one specialty finance company. The average allotment for each syndicate member was $13.6 million. Syndication began Oct. 4 at a bank meeting at Redskins Stadium in Washington.

Societe Generale, based in Paris, has targeted the U.S. professional sports market as a key niche for its corporate finance team in New York. The deal is the largest loan made to a professional U.S. sports team. The bank also advised Mr. Snyder on the $750 million purchase of the team. The financing has been criticized as requiring too much debt. -- David Weidner

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