Mivisa increases loan, flexes pricing
Institutional investor demand has driven bookrunners on the Mivisa LBO to increase the term loan ‘B’ by Eu32.6m and cut pricing by 25bp on all tranches of the all-senior debt, now worth Eu667.5m. Blackstone is buying the Spanish tin can maker from CVC. Last week, Towergate increased its loan Eu50m to Eu410, decreasing its high-yield bond by the same amount, as demand continues to outstrip deal supply. Read EuroWeek this Friday for the market reaction.
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