Flint Group widens price on commitment deadline

Cardboard boxes
By Ross Lancaster
01 May 2014

Flint Group, which provides products and supplies for the printing and packaging industries, was oversubscribed in commitments for its €1.5bn-equivalent of debt, after widening the pricing on the Thursday.

The transaction backs Flint’s takeover by units of Goldman Sachs and Koch Equity from CVC Capital Partners, which has owned it since 2005. 

The deal’s €1.25bn seven year first lien facility and €300m eight year second lien facility were both covenant-lite and equally split between dollars and euros. ...

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