BASF chemicals next bridge to drop after TKE blowout

Deutsche_Adobe_575x375_24Jun2020
By Owen Sanderson
01 Jul 2020

Banks have launched the buyout funding for Lone Star’s purchase of BASF Construction Chemicals into market, as the storming execution of ThyssenKrupp Elevator shows the discount banks must take to exit pre-Covid positions is rapidly shrinking.

Deutsche Bank is sole physical bookrunner on the deal for Skyscraper Performance Solutions, the rebranded BASF Construction Chemicals unit sold to Lone Star for €3.17bn in December, with closing expected in the third quarter.

The debt funding for the deal is split between a €700m euro tranche, now ...

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