Goodpack $650m buyout drives speculation of a US TLB takeout
Three banks are lined up to provide underwritten debt financing of $600m-$650m to back KKR’s S$1.399bn ($1.1bn) buyout of Singaporean packaging company Goodpack, in what is the private equity firm’s largest ever investment in southeast Asia. But with the deal expected to take Goodpack’s total debt to Ebitda ratio to as much as 6.5 times, bankers say any takeout will be best served by the US term loan B market, writes Rashmi Kumar.
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