CIBC World Markets appears to be set to lead a transatlantic credit for Yell Group, a portfolio company for London-based Apax Partners and Dallas-based Hicks, Muse, Tate & Furst, backing the acquisition bid for McLeod USA's telephone directories business. A banker said the potential loan would likely be an add-on to the $1.5 billion credit, denominated in Sterling launched last summer, led by CIBC, Merrill Lynch and Deutsche Bank. The amount of the loan and timing for syndication could not be determined, and CIBC officials referred all comment to bankers in London, who did not return calls. Yell's bid for the McLeod business is said to be between $550 million and $600 million. A spokeswoman for Apax declined comment and a spokesman for Hicks, Muse did not return calls.
CIBC Seen Dialing Up Yell For Directories Bid