Bain's Atento files for IPO

According to the firm's preliminary prospectus, the company intends to raise up to $300m via the issuance of ordinary shares.

The firm will use the funds to pay down the €110m vendor loan provided by Telefónica at the time of Bain's acquisition in 2012. Proceeds will also be used to pay transaction fees issued by Bain.

Morgan Stanley, Credit Suisse and Itau BBA are among the lead underwriters.

Bain acquired the asset from Spanish telecommunications giant Telefónica for €1.04bn in 2012. The transaction comprised a deferred payment of €110m and vendor financing totalling €110m provided by Telefónica.

The sale was part of debt-laden Telefónica's plans to raise cash through the sale of some of its assets. Telefónica had been considering the sale of Atento since 2007. Original plans for an IPO were scrapped before the parent company began seeking a vendor in the summer of 2012.

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• Topics
• Southern Europe
• Exits
• Spain
• IPO