Quick take-off for Alvest LBO loan syndication
The loan funding for CDPQ and Ardian’s acquisition of a stake in Alvest, the unrated French manufacturer of aeroplane parts, was allocated among a "limited" number of investors on Tuesday, amid growing demand for small and mid-sized credits.
Canadian investor Caisse de dépôt et placement du Québec (CDPQ) and private equity firm Ardian agreed to buy a major share of Alvest in September.Alvest issued $235m and €108.5m of seven year term loans ‘B’ to finance the operation on October 18. The margins are 390bp ...
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