First unitranche bond facility for Italian PE acquisition

By Olivier Holmey
23 Oct 2014

Asset managers Tikehau IM and Emisys have provided a six year €14.2m unitranche bond facility for the acquisition by a group of investors led by LBO Italia of GF SpA, a manufacturer of automated filling machines for the pharmaceutical industry. It is the first time such a debt structure has been used for this type of deal in Italy, people involved said.

The tailor-made financing solution was described by a person involved in the deal as “highly innovative” for the Italian market. “Although it is a small operation, it certainly has opened the doors for small and medium-sized companies to different alternatives to banking financing,” he told GlobalCapital.

However, asked ...

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