News in brief

• Bookrunners Dresdner Kleinwort and RBS with MLA GE Commercial Finance have launched syndication of the SKr5.15bn (€564m) debt package supporting Bridgepoint‘s buyout of Gambro Healthcare. The Krona denominated facility will be drawn in Euros. The facility has a full covenant package.

• The €720m all-senior recapitalisation of Nukem, mandated to UniCredit (HVB) as MLA and bookrunner has launched. Commerzbank, Dresdner Kleinwort, DZ Bank, HSH Nordbank and Zurich Versicherung joined as JLAs ahead of the launch. Nukem, an international leader in nuclear fuel cycle and decommissioning services is owned by Advent International.

• JPMorgan, Lehman Brothers and Morgan Stanley as MLAs have closed and allocated the €1.25bn debt package supporting Blackstone‘s secondary buyout of Kloeckner Pentaplast from Cinven. The deal was closed after a 25bp upwards flex on the a €187.5m 10-year mezzanine loan at an original issue discount (OID) of 99.50 on the €187.5m nine-and-a-half-year second-lien loan.

• Lehman Brothers and Lloyds TSB have flexed upwards financing for Advent‘s £580m buyout of Lloyds TSB Registrars. The price flex see the margin on the term loan B increased to 250bp over Libor from 225bp and the margin on the term loan C increased to 300bp from 262.5bp. Senior facilities are now offered at an OID of 99.75. Second-lien pricing has been priced up to 525bp, from price talk of with talk of 4.5% to 5%. Second lien will price with an OID of 99.50. The total debt facilities are close to £550m.

• The €495m loan backing the acquisition of Avanza Group by Doughty Hanson, mandated to UniCredit (HVB) as MLA and bookrunner has closed. Banco Santander and Mizuho Corporate Bank joined as MLAs ahead of the general syndication. The banks that joined as arrangers were Alliance & Leicester, BayernLB and Hypo Public Finance Bank. The co-arrangers were Bank of Ireland, Helaba, La Caixa and SMBCE. The lead managers were Allied Irish Banks and BBVA. Banesto came in as a manager.