Techem refi hits leveraged loan desks

Bookrunners are preparing to launch syndication of €550m of loans for Macquarie’s German meter-reading company Techem (B1/BB-), which is also planning to issue €735m of high yield bonds as it looks to refinance part of its debt.

  • 14 Sep 2012

The presence of the high yield bond means that the loan will be sold through the banks’ leveraged finance desks. When Macquarie raised €1.15bn of loans to finance its buyout of Techem in 2008, most banks syndicated the deal from their infrastructure desk.

With six bookrunners on the refinancing, ...

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2 Morgan Stanley 2,420 6 13.57
3 Goldman Sachs 2,096 5 11.75
4 BNP Paribas 1,686 6 9.45
5 Barclays 1,565 4 8.77

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5 Credit Suisse 28,257.94 85 6.46%