Röhm buyout loan returns to syndication
Advent’s buyout of German chemicals company’s Evonik’s acrylic unit last year is still haunting the leveraged loan market. The banks are relaunching syndication of €977m and $612m of term loan Bs, hoping that investors will find the credit more attractive this time around than when it was first syndicated.
Barclays, Deutsche Bank and Goldman Sachs are the lead bookrunners with Bank of America Merrill Lynch, Bank of China, Helaba, HSBC, RBC and NatWest Markets also joining in.
The commitments for the loan should be made by 28 January.Evonik announced in March last year that it was selling ...