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BWG

Mandated lead arrangers Allied Irish Banks, CIBC World Markets and Bank of Ireland have signed banks into the EURO272.5 million senior debt financing supporting Electra Partners’ EURO220 million acquisition of Irish food and wholesaling business BWG from Pernod Ricard.

The deal was syndicated club-style to BWG’s relationship banks, which were invited on tickets of EURO35 million apiece. The syndicate comprises Bank of Scotland, Abbey National Treasury Services, IIB Bank, Ulster Bank, Rabobank and Duchess 1. The facility comprises a EURO84 million seven-year term loan A at 225bp over Euribor, a EURO56 million eight-year term loan B at 275bp and a EURO72.5 million seven-year revolver at 225bp with a commitment fee of 75bp. There is also a EURO60 million seven-year tobacco guarantee facility at 225bp over Euribor with a 75bp commitment fee, relating to the company’s supply of tobacco products to the retail grocery trade.