A consortium led by Clayton Dubilier & Rice is aiming to raise leveraged loans worth €1.34 billion, Bloomberg reports. The consortium, comprising of Clayton, Axa Private Equity and Caisse de Depot et Placement du Quebec, will use the proceeds to fund its acquisition of Spie.
The loans include six and seven year tranches. As part of the LBO financing, Spie is also seeking to sell eight-year subordinated bonds worth €375 million. HSBC Holdings, Morgan Stanley and Societe Generale are coordinating the financing.
Click here for the story from Bloomberg.