Axilone looks to take out second lien, also switch terms

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By Owen Sanderson
03 Apr 2019

Axilone, the beauty product packaging firm, has launched an add-on to its first lien term loan. The money will be used to refinance the second lien debt it took out in January 2018, to part-fund its buyout by Citic Capital.

The full financing package for the buyout was a €265m first lien term loan ‘B’ due 2025, to which the company is looking to add €81.6m in the new deal, a €90m second lien, and a €50m revolver due 2024.

The second lien was rated Caa2 by Moody’s ...

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