Cortefiel readies bond as PE funds buy out Permira
Permira is selling its 33% stake in Cortefiel, the Spanish retailer, to the group's other two owners, CVC and PAI Partners. The deal includes a debt restructuring and ends rumours of an IPO.
As Cortefiel’s term loans approach their maturity in October, market talk in Madrid has surrounded whether Cortefiel would return to the public equity market.Permira, CVC and PAI Partners took it private in 2006. The borrower signed €1bn of term loans and a €200m revolver in 2012, ...
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