Deutsche Bank loses spot in NXP IPO

The decision follows Deutsche Bank’s (DB) refusal to renew a $60m credit line to NXP. DB’s decision is said to have been made by the underwriting committee, as underwriting fees would not have covered a potential loan loss.

Late last month,  the firm’s backers KKR, Bain Capital, Apax Partners, AlpInvest Partners and Silver Lake Capital announced  plans to raise $1bn through a flotation. The capital raised would go towards restructuring NXP’s debt; a process which has been ongoing since last year.

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• Topics
• Technology
• Benelux
• Restructuring
• Restructuring
• Netherlands
• Apax Partners
• Flotation
• AlpInvest
• KKR