KKR signs £2.5bn facility for Viridor buy

AdobeStock_KKR_logo_575x375_21July2020
By Mariam Meskin, Silas Brown
21 Jul 2020

KKR bidco Planets UK has signed a £2.5bn syndicated loan to support a £4.2bn all-cash acquisition of UK waste management firm Viridor, according to sources familiar with the situation. Merger and acquisition activity is set for a revival in the second half of the year, as previously deferred deals are brought back to the fore and at-risk companies are forced to rethink strategy, bankers say.

The five year syndicated loan was signed last Friday to support the Viridor purchase from Pennon Group. In early March, Pennon invited non-binding bids for Viridor and a week later KKR made a formal offer. 

Bookrunners were Goldman Sachs, Industrial and Commercial Bank of China, Mizuho and Natwest. Joining ...

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