Ista invokes institutional investor interest

A €1.15bn term loan ‘B’ supporting CVC Capital Partner’s buy-out of German metering company Ista International has been launched into syndication. The buy-out, the largest German private equity deal in five years, will be backed by €2.325bn of senior secured bank debt, senior secured high yield bonds and senior unsecured high yield bonds.

  • 29 Apr 2013

The new senior secured term loan ‘B’, which has a 2020 maturity, is being marketed at 450bp-475bp over Euribor. A bank meeting will be held in London on May 3 with commitments due on May 9.

The financing for the buy-out, which has a total acquisition value of €3.1bn, ...

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