Cinven to get over £430m for CPA acquisition
HSBC and JP Morgan are expected to be in the bank group arranging more than £430m of senior and mezzanine loans backing Cinven’s buy-out of group CPA Global, although a number of other banks are close to the process with the bookrunners yet to be finalised.
Cinven is buying the patent management group from ICG using £310m of senior term loans, an undefined amount of unfunded facilities and £120m of mezzanine debt. The mezzanine will be pre-placed.
Bankers and the sponsor are still working on the details of the financing package, which would leave the
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