Dell, the US computer maker, allocated the €700m tranche of its LBO financing early on Wednesday, after European investors overwhelming supported one of the largest covenant-lite deals ever to be issued in the currency. Most of the commitments to the loan came from lenders in Europe, investors and bankers involved in the deal told EuroWeek on Wednesday.
“Predominantly European investors committed to the euro term loan,” said a banker on the deal. “Generally speaking, the proportion of US investors in euro tranches of transatlantic deals varies a lot. It depends on the business and brand name. Dell has substantial cashflows in Europe as well as
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