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Banks To Prep Largest Term Loan

Deutsche Bank and Credit Suisse are slated to put together the largest term loan on record to back the $12.3 billion buyout of Univision by a consortium of private equity groups.

Deutsche Bank and Credit Suisse are slated to put together the largest term loan on record to back the $12.3 billion buyout of Univision by a consortium of private equity groups. The firms will also be inheriting $1.4 billion in debt. Georgia Pacific currently holds the largest term loan – a $5.25 billion piece put in place in January. The Univision term loan is expected to be significantly bigger, but the exact size could not be determined. Deutsche Bank is leading the loan portion and Credit Suisse is leading the bond portion of the financing. The actual terms of the financing have not been determined and the credit is not expected to hit the market until the fourth quarter, at the earliest.


Univision accepted the buyout offer today from the consortium that includes: Madison Dearborn Partners, Providence Equity Partners, Texas Pacific Group, Thomas H. Lee Partners and Saban Capital Group. After the announcement Moody's Investors Service downgraded Univsion's senior unsecured ratings to Baa3 and placed the ratings on review for further downgrade. A Thomas H. Lee spokeswoman and a TPG spokesman declined comment. Calls to the other private equity groups were not returned.

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