Permira buys Findus to heat up frozen leveraged market
Private equity house Permira, owner of Birds Eye Iglo, has obtained a Eu500m loan to part-finance its Eu805m leveraged buy-out of Findus Italy, the Italian frozen foods company, from Unilever.
Credit Suisse, Deutsche Bank, Mediobanca and Nomura are arranging the deal, a Eu500m bullet term loan (D) that will rank pari passu with Birds Eye Iglos existing senior debt.
The D piece will pay a margin of 475bp over Euribor and matures in April 2016. In addition, pricing will
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