CVC Said to Eye EUR1.2 Billion Bond Sale, Credit Facility for Irca Takeover Bid
CVC Capital Partners (CVC.AS) is funding its planned acquisition of Irca with a debt package comprising a 1.2 billion-euro high-yield bond issue and a revolving credit facility agreement, Bloomberg News reported Friday, citing people familiar with the matter. The bond sale, which is set to take place after the summer, replaces the private equity group's initial bridging facility agreement with Barclays, BNP Paribas, HSBC, and UBS, the sources added. CVC on Monday unveiled an agreement to purchase food ingredients manufacturer Irca from Advent, with the transaction expected to close in the fourth quarter, subject to customary regulatory approvals. CVC did not immediately respond to a request for comment.
CVC Capital Partners (CVC.AS) is funding its planned acquisition of Irca with a debt package comprising a 1.2 billion-euro high-yield bond issue and a revolving credit facility agreement, Bloomberg News reported Friday, citing people familiar with the matter.
The bond sale, which is set to take place after the summer, replaces the private equity group's initial bridging facility agreement with Barclays, BNP Paribas, HSBC, and UBS, the sources added.
CVC on Monday unveiled an agreement to purchase food ingredients manufacturer Irca from Advent, with the transaction expected to close in the fourth quarter, subject to customary regulatory approvals.
CVC did not immediately respond to a request for comment.