StarBev banks plan small selldown after year’s biggest LBO
The leveraged loan market cheered on Thursday morning as AB InBev sold its central and eastern European assets to CVC for about Eu1.5bn. The deal was backed by about Eu700m of senior debt and marks the biggest leveraged buyout in Europe this year.
Its good news to see it getting done, said a leveraged loan banker. Its good confidence for the market.The Eu690m financing for the company, which CVC will rename StarBev, is split into a Eu80m three year term loan A, priced at 525bp over Euribor, and two five year ...
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