Imerys’ roofing sale a credit boon for company

France’s Imerys is set to sell its roofing business to private equity firm Lone Star Funds for an enterprise value of €1bn, in a deal that is expected to slash short-term debt and spur acquisitions at the industrial minerals supplier.

  • By Michael Turner
  • 21 May 2018

Lone Star Funds’ offer for Imerys Toiture is firm, binding and fully financed, according to Imerys.

It values the division at nine times 2017 Ebitda. Imerys Toiture generated €300m of revenue last year.

“We expect Imerys to use the cash proceeds to redeem short-term debt, ...

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Global Syndicated Loan Volume

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3 Citi 37,921.02 109 6.63%
4 Mizuho 31,174.64 123 5.45%
5 MUFG 26,631.44 168 4.65%

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4 MUFG 826.21 3 5.96%
5 BNP Paribas 766.21 2 5.53%

Bookrunners of European Leveraged Loans

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5 Bank of America Merrill Lynch 1,011.25 5 5.13%

Bookrunners of European Marketed Syndicated Loans

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4 BNP Paribas 5,160.94 25 5.42%
5 UniCredit 4,424.51 19 4.65%

Syndicated Loan Revenue - EMEA

Rank Lead Manager Amount $m No of issues Share %
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1 HSBC 35.45 69 6.71%
2 BNP Paribas 31.67 78 5.99%
3 ING 31.21 74 5.90%
4 Citi 22.60 36 4.27%
5 Deutsche Bank 21.89 32 4.14%