Cobham take-private debt starts syndication

Owen Sanderson

January 20, 2020 03:15 pm

Cobham_F35_PA_230x150 — File photo dated 08/07/2016 of a Lockheed Martin F-35 Lightning II which uses over 100 Cobham components, as the struggling aerospace and defence firm issued another profits warning after revealing that it would book a mammoth £574 million writedown and take a £150 million hit from a US military contract. | Chris Radburn/PA Wire/PA Images

Loans backing Advent’s takeover of UK defence contractor Cobham, which received government approval over Christmas, have started general syndication, bringing welcome new money loans with a margin on the right side of 400bp.

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Owen Sanderson