Avio set to rocket through A&E, net new senior loan

Cinven’s Italian aerospace engine manufacturer Avio was expected to exceed the two-thirds approval threshold required for its amend and extend as the Friday May 11 deadline approached. The company’s target of raising a further €210m of senior loans to replace its existing second lien tranche should also be met, with new investors having committed alongside existing lenders.

  • 11 May 2012

One lender had described Avio’s request as "uncontroversial" when it was launched in late April.

"Avio is a name people like, has proved it can perform as an LBO, and there are few other places to put your money at the moment, so the timing has been helpful," said ...

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