July 6, 2011 / 4:38 PM / 7 years ago

RLPC-Advent lines up loans for Mondo Minerals LBO-bankers

LONDON, July 6 (Reuters) - Private equity firm Advent International’s acquisition of Mondo Minerals is backed by over 200 million euros ($290.2 million) of debt, bankers said on Wednesday.

Advent has mandated Royal Bank of Canada, BNP Paribas, IKB and Ares Capital to arrange the debt on its purchase of the world’s number two talc mining and processing company from HgCapital.

The loan is split between a 155 million euro, seven-year term loan B that pays 450 bps (basis points) over EURIBOR, a 20 million euro revolving credit facility and 15 million euro capex facility that pays 400 bps over EURIBOR as well as a 30 million mezzanine piece.

The deal, which including debt is valued at between 350 and 400 million euros, is due to launch for syndication shortly, the bankers said.

Advent Capital was advised by HSBC with legal advice provided by Allen & Overy, while HgCapital hired Lazard. Clifford Chance was instructed on legal matters.

The Amsterdam-headquartered business owns mines and processing operations in Finland, as well as processing facilities in the Netherlands, producing additives for paper, paints and plastics.

HgCapital acquired Mondo Minerals in 2007 for 230 million euros from Omya, a global producer of industrial minerals. ($1 = 0.689 Euros) (Reporting by Claire Ruckin; Editing by David Holmes)

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