London-based 3i Group has laid down terms for €205 million loans to finance its acquisition of French company Etanco from IK Investment Partners, Bloomberg reports. The facility will include an €85 million, seven-year term loan. The deal is said to have valued the building-product maker at €370 million.
The U.K. private equity firm will fund more than half of the cost of the buyout with its own funds as equity, while the acquisition debt represents 4.2 times Etanco’s earnings before interest, tax, depreciation and amortization. The senior loans will be arranged by Bank of Ireland, Credit Agricole, Credit Mutuel and Societe Generale.
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