Axilone looks to take out second lien, also switch terms

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 ...Already a subscriber? Login