Financing
JZCP targets Spain with new joint venture Toro Finance
Listed private equity fund JZ Capital Partners (JZCP) has teamed up with Avenue Capital Group to launch a new тЌ400m finance company in Spain.
Ardian provides unitranche for Européenne des Desserts buyout
Ardian (formerly Axa Private Equity) has arranged a €70m unitranche facility to finance Equistone's buyout of Européenne des Desserts from Azulis Capital and Céréa Partenaire.
Babson Capital provides mezz for Teachers' Busy Bees
Babson Capital Europe has provided a mezzanine facility to support the ТЃ220m acquisition of UK nursery chain Busy Bees by Teachersт Private Capital last week.
Ardian arranges €275m unitranche facility for Flexitallic SBO
Ardian (formerly Axa Private Equity) has arranged a €275m multi-currency unitranche facility to finance the €450m buyout of Flexitallic by Bridgepoint, in what marks the first investment for Ardian's Private Debt Fund III vehicle.
Lloyds, HSBC, GE team up for Côte funding
CBPEтs acquisition of CУДte Restaurants earlier this month received debt financing from Lloyds Bank Commercial Bankingтs Acquisition Finance team, the HSBC Leveraged Finance team and GE Capital.
3i closes €310m CLO
3i Debt Management has closed its first European collateralised loan obligation (CLO) vehicle, Harvest VII, on €310m.
Earlybird's Nagel on Germany's new stock market tier
Christian Nagel, partner and co-founder of Earlybird Venture Capital, speaks to Kim Richters about plans for the new stock market tier in Germany, proposed to aid financing prospects for start-ups
Beringea makes debt move with Mark Taylor hire
Mark Taylor, Beringea
KKR dives into maritime debt void
KKR has established Maritime Finance Company, a new business focused on the lending gap in the European shipping market.
Pamplona to leverage OGF purchase with €635m debt package
The recently announced buyout of French funeral services operator OGF by Pamplona will be financed by a €635m debt package, according to media reports.
Lion's Picard issues €480m floating rate note
Picard Surgelés, a French portfolio company of Lion Capital, has issued a €480m floating rate note to refinance part of its debt.
Alternative lenders outpace Business Bank
The UK governmentтs Business Bank has dished out only ТЃ300m in SME loans since inception, compared with ТЃ345m provided by alternative lenders in short-term secured loans.
Refinancings drive activity in loan market
Portfolio company refinancings accounted for 63% of loans issued across Europe in the first half of this year, while M&A activity made up just 32% of the total.
S&P launches mid-market assesment service
As banks continue to hold back lending for mid-market companies, Standard & Poor’s (S&P) has launched a European credit benchmark for the neglected market segment.
High-yield Q&A: Lloyds' Ian Brown and David Whiteley
High-yield Q&A
Major refinancing underway for Eurazeo's Elis
Elis, a French professional clothing business owned by Eurazeo, has placed a €450m high-yield bond as part of a significant refinancing effort.
France's Elior and Nord-Est in refinancings
Charterhouse's catering business Elior has tapped into the high-yield market to raise €350m, while Oaktree has been able to reap a dividend by leveraging its investment in packaging company Nord-Est, according to local reports.
New Look launches £800m bond offering
Apax- and Permira-backed New Look Group has launched an ТЃ800m senior secured notes offering to pay down its debt.
Candover's Alma Consulting in refinancing talks
Alma Consulting, a French corporate cost-reduction advisory business owned by Candover, could be taken over by its mezzanine lenders, according to local reports.
KKR provides debt financing to Spain's Uralita
KKR Asset Management, KKR‘s sub-investment grade manager, has provided a €320m seven-year facility to Spanish building materials firm Uralita.
LBO France's Médi-Partenaires hopes to raise €385m on high-yield market
Médi-Partenaires, a French chain of clinics backed by LBO France and Equistone, is understood to be aiming to raise €385m on the high-yield bond market.
Mezzanine makes its comeback
Mezz bounces back
Advent, Bain in £340m WorldPay dividend recap
WorldPay, a card payment services provider acquired by Advent International and Bain Capital in 2010, has secured a ТЃ700m refinancing including a dividend recap for the private equity owners, according to reports.