BSN set for blowout with tightened OID, Aussie dollar success

12 Jul 2012

Strong demand from banks and funds has allowed bookrunners on the senior loans backing EQT’s buy-out of German bandages maker BSN Medical to tighten the yield on the term loan ‘B’ in the borrower’s favour and increase the size of the committed acquisition facility by €50m — taking the total amount of senior loans to €915m.

As a large, well performing company with an existing syndicate and in a strong sector and jurisdiction, BSN had long been expected to be a blowout. Some loan investors had expressed concern about BSN’s leverage when the deal was launched, saying syndication may not be so straightforward. But ...

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