Novacap gets €310m to refinance Ardian LBO

By GlobalCapital
01 May 2014

Novacap, the French chemicals group owned by Ardian, made its high yield bond market debut on Thursday with a €310m floating rate note, priced at the tight end of guidance.

Ardian bought 96% of Novacap in January 2011 in a deal valuing the firm at €240m.

Proceeds from the 144A bond will be used to fully repay Novacap’s senior bank credit facilities and for general corporate purposes.

Goldman Sachs was billing and delivering, with BNP Paribas, Deutsche Bank ...

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