CVC adds sterling tech deal into LBO portfolio
Private equity firm CVC has taken to the leveraged loan market to fund the acquisition of IT systems company QA Group, encouraged by the lower borrowing costs on loans than high yield bonds.
CVC is keeping leveraged loan desks busy as the summer break approaches. In the past four days, it has brought three euro deals, and one in sterling on Monday.Barclays
, global co-ordinator for QA’s £320m seven year senior secured term loan 'B', released guidance of a 450bp-475bp
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