KRAFT has enlisted a syndicate of banks to agree to a &pound;5.5bn credit facility to finance the cash portion of its bid and go towards paying down some of Cadbury&rsquo;s debt, should the bid succeed.<br /><br />Citigroup Global Markets, Deutsche Bank Securities and HSBC Securities served as joint bookrunners, while Citibank and Deutsche Bank Cayman Islands Branch served as co-administrative agents. <br /><br />The banks participating in the new credit facility are: Citibank, Deutsche Bank AG - Cayman Islands Branch, Deutsche Bank AG - London Branch, HSBC Bank USA, Barclays Bank, Banco Bilbao Vizcaya Argentaria, BNP Paribas, Credit Suisse AG - Cayman Islands Branch, Royal Bank of Scotland and Societe Generale. <br /><br />Fittingly for one of the largest M&amp;A deals in the year to date, Kraft and Cadbury have appointed an army of advisers to stand behind them &ndash; a move which analysts say could cost the two firms upwards of $88.79m in fees<br /><br />US consumer brands giant Kraft has enlisted Lazard, Deutsche Bank and Citigroup on the corporate broking side, with the chairman of Deutsche&rsquo;s corporate broking business James Agnew and the co-head of the UK European capital markets and broking business at Citigroup David James taking the lead.<br /><br />Kraft&rsquo;s takeover process was dealt a blow last month when Bruce Wasserstein, Lazard's chairman and lead adviser to the company, died unexpectedly.<br /><br />Kraft has also appointed three big hitters on the financial advisory side: Robert Pruzan, the co-founder of Centerview Partners; Leon Kalvaria, Citigroup&rsquo;s head of consumer and healthcare investment banking; and Nigel Meek, head of UK investment banking at Deutsche Bank.<br /><br />And aside from the banking division Kraft has enlisted the services of Ernst &amp; Young&rsquo;s Michel Driessen and Clifford Chance partners Sarah Jones, Guy Norman and Rob Crothers.<br /><br />Cadbury is taking advice from Goldman Sachs&rsquo; Karen Cook; UBS joint heads of UK investment banking Nick Reid and Tim Waddell, along with one of the bank&rsquo;s most senior M&amp;A bankers, James Robertson; Morgan Stanley&rsquo;s co-chair of global M&amp;A Simon Robey; and Slaughter and May&rsquo;s M&amp;A head Stephen Cooke. <br />