Sebia offered 6x leverage as LBO loan mart heats up
Leveraged loan houses scrambled this week to win the mandate for the deal backing Cinven’s Eu800m buyout of Sebia International, the French healthcare diagnostics group, as today’s (Thursday’s) deadline for financing proposals loomed.
Such is the competition that banks are understood to have proposed financing equivalent to six times Sebias Ebitda, a level unheard of since 2007.
But most bankers said that the deal would probably settle around five times. "They have gone very wide in terms of banks approached and will
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