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.

  • 23 Jul 2010

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 Iglo’s 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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