Genesis Care buyout offers loan buyers rare juice and a Chinese shareholder
Australian healthcare business Genesis Care is borrowing A$1.4bn-equivalent to fund the buyout of 21st Century Oncology’s US business, giving loan investors a rare chance to put money to work at a spread north of 400bp.
The Sydney-based company is 21% owned by KKR, whose capital markets operation is leading the syndication with Morgan Stanley, but its largest shareholder, at 41%, is China Resources, a conglomerate with holdings in beer, real estate, energy, retail and meat.Genesis agreed to buy the US business of ...
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