German temping agency Time Partner has launched a €215m debt backing its buyout by Investcorp from AUCTUS Management through sole bookrunner HVB. Senior debt comprises a €30m seven-year term A loan with a margin of 225bp over Euribor, a €50m eight-year B loan at 275bp, a €50m nine-year C loan at 325bp, a €15m seven-year at 225bp and a €40m seven-year acquisition facility at 250bp.
Advent International has completed senior syndication of the financings backing the buyout of two of RWE Solutions’ businesses, SAG and Nukem through bookrunner HVB in two separate transactions. The €540m all-senior facility for SAG comprised a €167m 364-day bridge facility A, a €58m 364-day bridge facility B, a €95m five-year revolver and a €220m five-year guarantee facility. The €340m senior credit facility for Nukem comprises a €70m five-year term loan, a €100m five-year revolver and a €170m five-year guarantee facility. On both transactions Dresdner Kleinwort, HSH Nordbank and LBBW joined as MLAs and sub-underwriters and Commerzbank and Zürich Versicherung joined as senior lead arrangers. Both deals will be launched to general syndication to a limited number of banks during the next couple of weeks.
The €944.7m loan backing PAI Partners’ LBO of engineering group AMEC SPIE has launched to general syndication, via co-ordinating bookrunner SG and bookrunner BNP Paribas. ABN AMRO, ING and Natexis Banques Populaires joined as JLAs in the senior phase. Senior debt comprises a €134.7m seven-year term loan A at 225bp over Euribor, a €130m eight-year term loan B at 25bp, a €130m nine-year term loan C at 300bp, a €250m borrowing base facility that will not be syndicated, a €50m seven-year revolver at 225bp and a €100m seven-year acquisition line at 225bp.
Nursing home chain Medica France has launched a €622.3m LBO loan, through bookrunner RBS. BC Partners is the sponsor. Calyon joined as a MLA ahead of launch. The €496.3m senior debt comprises a €30m seven-year A loan paying 200bp over Euribor, a €145.6m eight-year loan B at 250bp, a €146.7m nine-year loan C at 300bp, a €150m capex/acquisition facility at 225bp and a €25m seven-year revolving credit facility at 200bp. There is also a €34m 9-1/2-year second-lien piece paying 5% and a €92m mezzanine, with undisclosed pricing. Two tickets are on offer; co-arrangers can earn 70bp for a €30m ticket and lead managers 50bp for €20m.