Goldman lines up HY bond to fund McCarthy & Stone take-private

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By Owen Sanderson
26 Nov 2020

Goldman Sachs is preparing a £225m high yield bond to take out the acquisition financing for Lone Star’s take-private of UK retirement home developer McCarthy & Stone, according to documents backing the offer.

The offer to shareholders was announced on October 23, with Lone Star’s real estate investment arm proposing to pay £630m for the listed UK company. In accordance with UK take-private rules, financing documents for the bid must be distributed to shareholders.

These suggested a senior secured four ...

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