Wafer-thin margins for giant Froneri financing

Oreos 230x150
By Owen Sanderson
14 Jan 2020

Froneri, a PAI Partners-backed ice cream company, is syndicating the financing for its acquisition of Nestlé’s US ice cream business, raising €5.7bn-equivalent of first and second lien debt across three currencies.

On offer is first lien debt rated B1/B+, split into €2.3bn, $1.68bn and £415m tranches, as well as B3/B- rated second lien split between €430m and $355m tranches.

Credit Suisse is sole physical bookrunner on the US offerings, while Credit Suisse and Goldman Sachs are physical ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.