ISS relaunch unlikely in near future

22 Jun 2011

Bankers involved in the Dkr14bn ($2.59bn) IPO of Copenhagen-based global cleaning services firm ISS — by far the largest EMEA deal pulled this year — have dismissed speculation that the company is set to relaunch the deal after it was able to extend its outstanding debt.

On June 1, ISS asked lenders to extend commitments maturing in June 2012 (a revolving credit facility and letter of credit facility) to December 2014 and commitments maturing in 2013 (facility ‘B’ and acquisition ‘B’) to April 2015. In addition, ISS sought lender consent to increase its revolving credit facility by Dkr1.5bn.

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