UPDATE 2-RLPC-DEALTALK-Pernod launches 12 bln euro loan

(Adds loan pricing)

By Alasdair Reilly and Tessa Walsh

LONDON, April 8 (Reuters) - The 12 billion euro ($18.87 billion) loan backing Pernod Ricard's (PERP.PA: Quote, Profile, Research) acquisition of Sweden's Vin & Sprit (V&S) [VSG.UL] has launched to a wider syndication, the arranging banks announced on Tuesday.

The loan is Europe's largest non-investment grade corporate loan. It is also Europe's largest 'crossover' credit, with a similar structure to acquisition loans for highly-rated companies but also carries higher leverage levels characteristic of lower-rated companies.

The loan is split into a 1 billion euro, one-year facility A; a 665 million euro, three-year facility B1; a $3.62 billion three-year facility B2, a 1.213 billion euro, five-year facility C1; a $6.518 billion, five-year facility C2; a 600 million euro, five-year facility D; a 700 million euro, five-year facility E1 and a 1.32 billion euro, five-year facilty E2.

The term loan A pays a margin of 90 basis points (bps) over EURIBOR, while the B1 and B2 tranches pay a margin of 110 bps.

The rest of the tranches pay a margin of 125 bps.

Banks are invited to participate at three levels, bankers said.

Banks committing 500 million euros get an uprfront fee of 75 bps while banks committing 300 million euros receive 60 bps.