Żabka Polska, an operator of Polish convenience stores, has launched a syndicated loan to fund a dividend recapitalisation, according to bankers. The transaction is following closely in the footsteps of fellow Polish corporate, Allegro, that closed a Z2bn (€470m) dividend recap in May.
The syndicated loan for the dividend recap was launched in June and will upsize Żabka's existing facility by at least Z1.8bn (€424m). The loan is likely to close by the end of July.
Żabka raised a syndicated loan of Z2.7bn in April 2017 to support its leveraged buyout (LBO) by
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