Buy it now: Barclays and Citi unveil eBay Classifieds loan

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By Owen Sanderson
14 Oct 2020

Barclays and Citi have begun syndication of the loan backing Adevinta’s purchase of eBay Classifieds, one of the largest EMEA M&A deals agreed this summer. The banks are marketing €1.33bn of term loans, with a bond deal to follow shortly.

eBay started the auction process in late February, proceeding with the sale despite the pandemic potentially crimping the availability of finance for sponsor-backed or highly leveraged bids. Possible buyers included KKR-backed Axel Springer, South African group Naspers, which owns Prosus Classifieds, and private equity consortia including Blackstone, Hellman ...

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