Three banks in for Novacap LBO
Axa Private Equity has finalised its Eu240m takeover of French chemicals group Novacap from Bain, using senior credit facilities worth around Eu200m to finance the transaction. BNP Paribas, HSBC and Société Générale are underwriting the loans. Novacap is the second chemicals company to tap the leveraged loan market in the last month, following Bain’s acquisition of Dutch firm IMCD at the end of the end of December. Syndication for those loans — worth Eu500m — is due to launch in the first week of February. To find out more, read EuroWeek this Friday.
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