Matahari catches the eye with talk of 600bp margin on LBO

11 Mar 2010

The loan backing CVC’s acquisition of Indonesia’s Matahari Department Store is set to be four times Ebitda with margins starting at the 600bp mark and a six year tenor, said a leveraged loans banker in Hong Kong.

CVC is looking for around $440m-$480m in rupiah, based on earnings of $110m-$120m. The margin of 600bp over Libor makes the deal one of the most lucrative under discussion in Asia’s loan markets.

Leveraged loan bankers are closely watching the deal’s progress. It is not only one of Indonesia’s ...

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