SPAIN - PE-backed Amadeus seeks to amend debt prior to listing

The changes would include removing a covenant governing capital expenditure, as well as the loan's "change of control" agreements - which would provide the company with more flexibility as it readies its listing.

In return, the company is proposing to up the interest on repayments by 1.25%, as well as introduce a 0.5% participation fee and a 0.25% fee for banks committing on an "early bird" basis.

BC Partners and Cinven acquired a joint 53% stake in Amadeus in 2005, with the balance of the equity held by airlines Air France, Iberia and Lufthansa.

Amadeus is looking to raise EUR 2bn from the listing in the Madrid bourse. JP Morgan is the market agent for the transaction.

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