Lenders meet to fund Euroports buyout

Port
By Owen Sanderson
14 May 2019

Lenders were meeting on Tuesday ahead of a loan to fund the purchase of Euroports, which operates shipping terminals in Antwerp, Ghent, and Rostock, by a consortium including two Belgian sovereign wealth funds.

On offer is a €315m first lien, talked at 375bp with a 99.5 OID, and a €105m second lien, talked at 750bp-775bp with a 98.5 OID, alongside a €70m revolver. The first lien is rated Ba2/BB-, with the second lien rated B/B2. JP Morgan is sole bookrunner.

The ...

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