Three shipped into V.Group LBO

CIBC, Citi and HSBC have joined syndication of the $260m of leveraged loans backing the buy-out of V.Group, parent company of Scottish shipping services company V.Ships, by Canadian pension fund Ontario Municipal Employees Retirement System (OMERS) from Exponent. Royal Bank of Canada has underwritten the deal.

  • 07 Nov 2011

The three banks have joined on a take and hold basis. HSBC underwrote the $267m of loans backing Exponent’s buy-out of V.Ships in July 2007.

V.Group’s new loans comprise a $78m term loan ‘A’ paying 475bp, a $122m term loan ‘B’ paying 525bp, a $40m revolver paying 475bp and ...

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2 Goldman Sachs 2,096 5 12.39
3 Morgan Stanley 1,965 5 11.61
4 BNP Paribas 1,686 6 9.96
5 Barclays 1,565 4 9.25

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5 Barclays 16,546.45 55 6.16%