Fresh LBO of Converteam seeks Eu1bn loan

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Fresh LBO of Converteam seeks Eu1bn loan

June 18, 2008 12:00 AM

A loan of around Eu1bn is expected to be issued as part of the financing supporting the buyout of Converteam. Barclays Private Equity, LBO France and management bought the German power conversion product maker earlier this week for around Eu2bn. HSBC, Lehman Brothers, Royal Bank of Scotland and Société Générale are expected to arrange the debt, having provided stapled financing during the bidding process. Read EuroWeek this week for the market’s view on one of this year’s biggest leveraged loans.

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