Scandlines €875m launch kick-starts Oct levloan market

By Olivier Holmey
03 Oct 2013

Scandlines, the German-Danish ferry operator, has given the European leveraged loan market a healthy start to October with the launch of a new €875m loan package. The debt, arranged and underwritten by a group of eight banks, will partly serve to refinance outstanding debt and back the buy-out of Allianz Capital Partner’s stake in the company.

The drawn debt will consist of a €265m six year amortising term loan ‘A’ with margin of 425bp over Euribor and a €525m seven year bullet term loan ‘B’ at 525bp over.

A €35m revolver and €50m amortising capex facility complete the debt. Both tranches will have six ...

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