Swift syndications expected for Orange Switzerland, CPA
Bank meetings will be held next week to market the leveraged loans backing Apax’s buy-out of Orange Switzerland and Cinven’s takeover of CPA Global. But market participants said bookrunners were looking for a quick turnaround, having already sounded out numerous lenders.
The facilities will also be reduced after the launch of a three-tranche high yield bond on January 27. The total size of Oranges loans is expected to fall from Sfr850m to around Sfr567m following the increase of a Sfr325m 2019 senior secured bond to Sfr425m, and the enlargement
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