Clariant backs takeover with Sfr900 loan
Swiss chemicals firm Clariant has arranged a Sfr900m ($930.2m) bridge loan to back its acquisition of Süd-Chemie from private equity firm One Equity Partners. The facility will be taken out in the bond market at the end of this year or early in 2012.
The company has approached a small group of banks to back the transaction and the facility is likely to be completed as a club deal.
The acquisition, which has an enterprise value of Eu2bn, will be backed by a mixture of new equity, debt and cash.
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