United Kingdom

Claire Ruckin

Investors line up for Parques Reunidos loan

11 Sep 2019

LONDON, Sept 11 (LPC) - Banks are showing a select group of investors a €1.16bn debt financing backing Swedish private equity firm EQT’s acquisition of Madrid-based theme park operator Parques Reunidos, banking sources said on Tuesday.

Sponsors push for fee exemptions on buyout loans

28 Aug 2019

LONDON, Aug 28 (LPC) - Arranging banks are facing a fresh assault on underwriting fees on buyout loans, as private equity firms are demanding lower fees if their limited partners join deals, or for introducing other investors, after already securing discounts if their debt arms lend.

Banks offered US$1bn tickets on LSE Refinitiv bridge loan

27 Aug 2019

LONDON, Aug 27 (LPC) - A select group of relationship banks are being offered US$1bn tickets in a US$13.5bn bridge loan backing the acquisition of Refinitiv by London Stock Exchange Group, banking sources said on Tuesday.

Equity investors provide debt for Merlin buyout

08 Aug 2019

LONDON, Aug 8 (LPC) - Three equity investors behind the £5.91bn (US$7.49bn) take-private buyout of UK theme park and attraction operator Merlin Entertainments are also underwriting just under half of the £3.8bn-equivalent debt, uniting the interests of parties that have traditionally been separate.

Banks pitch for possible debt on LSE-Refinitiv deal

29 Jul 2019

LONDON, July 29 (LPC) - Banks are pitching to lead a possible debt financing backing a potential US$27bn merger between financial data firm Refinitiv and the London Stock Exchange Group (LSE), banking sources said on Monday.

CVC's payout from Germany's Tipico hits €1bn with third dividend

23 Jul 2019

LONDON, July 23 (LPC) - CVC is poised to take a third dividend payment of up to €620m from German sports betting group Tipico, bringing total shareholder payments to more than €1bn since the company's private equity buyout in 2016, banking sources said.

European lenders play high stakes with P2P loans

18 Jul 2019

LONDON, July 18 (LPC) - European leveraged loan bankers, desperate for fees as a result of the ongoing low-deal market environment, are keen to lead more lucrative public to private financings, but the collapse of a handful of recent deals has resulted in some signs of frustration among lenders.

Lead banks work to shift Evonik unit loan

16 Jul 2019

LONDON, July 16 (LPC) - Lead banks are in talks with private debt funds and family offices to shift excess paper on a €1.8bn buyout financing for German chemicals group Evonik’s methacrylates plastics unit, Madrid, that they are stuck with and are considering launching a second syndication process, banking sources said.

REFILE-BAML in pole position for financing Blackstone’s CRH unit buy

16 Jul 2019

LONDON, July 16 (LPC) - Bank of America Merrill Lynch looks set to take a leading role on a debt financing backing private equity firm Blackstone’s €1.64bn acquisition of Irish building materials supplier CRH’s European distribution arm, banking sources said.

Busy July expected in Europe's leveraged loan market

11 Jul 2019

LONDON, July 11 (LPC) - Up to €25bn-equivalent of deals are poised to hit Europe's leveraged loan market this summer, but underwriting deals is proving difficult as arranging banks try to strike a balance between caution in a weaker market, and aggression to win deals.

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