Oversubscribed Britax wraps up
General syndication has closed for the loans backing Nordic Capital’s acquisition of Britax Childcare, with the financing “well oversubscribed”, according to bankers working on the deal.
Bank of Ireland and Commerzbank were the bookrunners on the £260m of loans, and had completed an early bird syndication phase in December 2010.
“We were not at all surprised by Britax’s success,” said one bookrunner. “We believed the financing structure was very sensible.”Following an aggressive bidding process, the ...