Three sign up to Minacs $150m LBO borrowing

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By Shruti Chaturvedi
07 Aug 2014

Bookrunners and mandated lead arrangers DBS and ING have wrapped up a $150m loan that was issued to back the leveraged buyout of Minacs, the business process outsourcing unit of Indian company Aditya Birla Group.

The deal was split between a $130m term loan and a $20m revolver, with only the former being syndicated. The margin for the five year loan starts at 475bp over Libor, based on a leverage ratio of more than 2.25 times. It falls to 425bp when leverage is ...

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