Lion Capital meets lenders for Picard buyout
Lion Capital plans to meet lenders to secure a €675m debt package for the acquisition of Picard Surgelés, according to media reports.
Lion Capital announced the secondary buyout of French frozen food specialist Picard Surgelés in July, for an estimated €1.5bn.
The private equity house is looking to secure €975m of overall financing for its purchase. If Credit Suisse, Morgan Stanley, Citigroup, Credit Agricole and Societe Generale can provide the loan, Lion Capital will look to get the remaining €300m via unsecured bonds.
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