CVC Plans €1.2 Billion Bond Sale to Fund Irca Buyout
Updated
Updated · Bloomberg · Jul 3
CVC Plans €1.2 Billion Bond Sale to Fund Irca Buyout
2 articles · Updated · Bloomberg · Jul 3
Summary
€1.2 billion of high-yield bonds is set to finance CVC Capital Partners' acquisition of Italian food-ingredients maker Irca SpA, according to people familiar with the matter.
The bond issue would replace an initial bridge facility arranged by Barclays, BNP Paribas, HSBC and UBS, shifting the deal toward longer-term funding.
A revolving credit facility from the same banks is also expected to form part of the debt package, rounding out the buyout financing structure.