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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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

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Rank Lead Manager Amount $m No of issues Share %
  • Last updated
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1 Citi 41,255.30 117 12.99%
2 Bank of America Merrill Lynch 37,631.92 109 11.85%
3 Wells Fargo Securities 32,082.26 89 10.11%
4 JPMorgan 20,969.41 64 6.60%
5 Credit Suisse 16,754.47 44 5.28%