Picard splits debt between Eu655m loan and Eu300m HY bond

Private equity house Lion Capital will part finance its recent Eu1.5bn purchase of Picard Surgelés, the French frozen foods company, with Eu655m of senior secured loans and a Eu300m high yield bond.

  • 29 Jul 2010

Citi, Credit Suisse and Morgan Stanley are arranging the financing. The loan is made up of a Eu225m term loan ‘A’, a Eu400m ‘B’ tranche and Eu30m revolver.

The amortising ‘A’ piece and revolver have maturities of six years and margins of 450bp. The ‘B’ loan will mature ...

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Bookrunners of Global Structured Finance

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5 Credit Suisse 6,335.67 14 6.30%