French Stella Group hits home stretch
A loan for Stella, a French shutter and grill manufacturer, is set to be allocated on Friday, with the deal oversubscribed at original guidance on Thursday afternoon, wrapping up another project shelved in the face of last year’s deteriorating market.
PAI Partners entered exclusive discussions to buy Stella in a secondary transaction from ICG last November and talks began on a financing package. But it was wise to wait, with market conditions now supportive, amid a skinny supply pipeline in new money euro leveraged loans.Guidance remains 400bp-425bp ...
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