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United Kingdom

Claire Ruckin

Platinum backs Wyndham Europe unit buy with €857m loan

17 Apr 2018

LONDON, April 17 (LPC) - Private equity firm Platinum Equity’s acquisition of US hotelier Wyndham Worldwide Corp’s European vacation rental business will be backed with an €857m leveraged loan, banking sources said.

Bank trio expected to lead financing on Zentiva sale

17 Apr 2018

LONDON (LPC) - Goldman Sachs, JP Morgan and Morgan Stanley are expected to lead a debt financing totalling in excess of €1bn backing private equity firm Advent International’s acquisition of French healthcare group Sanofi’s European generics drugs arm Zentiva, banking sources said.

Macquarie's sale of German metering firm Techem in final round -sources

12 Apr 2018

FRANKFURT/LONDON, April 12 Macquarie picked three suitors for a final bidding round for the sale of German metering group Techem, which may be valued at around 4 billion euros ($4.9 billion), people close to the matter said.

Cerba launches €408m add-on loan to fund Bio7 buyout

11 Apr 2018

LONDON, April 11 (LPC) - European medical laboratory services operator Cerba Healthcare is raising an additional €408m leveraged loan to back an acquisition of France-based clinical analysis specialist Groupe Bio7, banking sources said.

Bankers line up €550m of debt for DSM unit as sale nears

11 Apr 2018

LONDON, April 11 (LPC) - Bankers are preparing debt financings of around €550m to back a potential sale of Dutch speciality chemicals company DSM’s anti-infectives unit as potential buyers get ready to submit second round bids next week, banking sources said.

Bankers pitch aggressive loan refinancings as uncertainty looms

04 Apr 2018

LONDON, April 4 (LPC) - Bankers are pitching recapitalisation and refinancings to sponsors in a bid to maximise leverage, lower pricing and attain aggressive documentation for portfolio companies while a window of opportunity remains as longer term visibility in Europe’s leveraged loan market starts to dwindle.

EMEA syndicated loans down 25% but pipeline builds

03 Apr 2018

LONDON, April 3 (LPC) - First quarter syndicated lending in Europe, the Middle East and Africa (EMEA) fell 25% year-on-year to US$200bn from US$267bn, reflecting a fall in M&A activity and refinancing compared with the beginning of last year, Thomson Reuters LPC data shows.

Jumbo deal for Akzo Nobel unit LBO stirs debt markets

03 Apr 2018

LONDON, April 3 (LPC) - Banks have lined up as much as €7.3bn-equivalent of debt to back the buyout of Akzo Nobel's chemicals business, the latest jumbo cross-border leveraged financing to hit the loan and bond markets.

Buyout financings skirt ECB's lending rules

29 Mar 2018

LONDON (LPC) - Several large leveraged buyouts have exceeded the six times leverage limit outlined by the European Central Bank’s guidance on leveraged lending, leading loan bankers to question just how effective the rules are.

Banks and funds compete for second-lien loans

27 Mar 2018

LONDON (LPC) - Banks and funds are competing for second-lien leveraged loans as they battle for higher yielding assets to bolster their returns.

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