LBO Syndications arranged September

LBC Tank Terminals

Target nation: France

Date announced: 19/04/07

Deal type: Secondary buyout

Acquirer: Challenger Infrastructure Fund

Total value: Undisclosed

Mandated arrangers: BNP Paribas and Calyon

Financing: €450m

A €450m seven year facility backing the buyout of LBC Tank Terminals has closed oversubscribed. The deal backs sponsor Challenger Asset Management‘s acquisition of the business from One Equity Partners, as well as funding capital expenditure. Bookrunners are BNP Paribas and Calyon. LBC is the world’s largest independent provider of bulk liquid chemical storage services. In 2004 BNP Paribas arranged the €96.3m debt backing One Equity Partner’s €243m buyout of LBC from from Fimalac.

Schenck Process

Target nation: Germany

Date announced: 29/08/07

Deal type: Secondary buyout

Acquirer: Industri Kapital

Total value: Undisclosed

Mandated arranger (s): Unknown

Financing: Unknown

The loan backing the secondary buyout of Schenck Process by Industri Kapital has been mandated with CIBC Bank believed by bankers to be close to it. Schenck Process, a German provider of industrial weighing and feeding equipment, is being sold by HgCapital. Schenck has revenues of around €350m a year.

Telenor Satellite Services

Target nation: Norway

Date announced: 26/10/06

Deal type: LBO

Acquirer: Apax Partners France

Total value: US$400m

Mandated arrangers: CIBC and ING

Financing: US$377m

Vizada had mandated CIBC and ING as mandated lead arrangers and bookrunners on its buy-out facilities. DnN Nor and HSH Nordbank are mandated lead arrangers on the deal. The facility comprises a US$50m term loan A paying 225bp over Libor, a US$116m B tranche at 275bp and a US$116m C loan aqt 325bp. There is also a US$40m second lien priced at 5.25% and US$55m mezzanine loan with a 10.5% margin that has already been placed with one fund and a bank. Vizada is a mobile satellite services provider formed from the merger of France Telecom Mobile satellite Communications and Telenor Satellite Services. Vizada was bought by Apax in October 2006 and closed the acquistion of Telenor Satellite Services, for US$400m, at the end of August.

Source: IFR Loans/EVCJ