Danish outsourcing company, ISS, is seeking to refinance its existing loans as part of its planned $2.5 billion initial public offering (IPO), Reuters reports. ISS has secured $2.34 billion of new loans from banks, including $1.4 billion of five-year senior term loans and an $841.9 million five-year revolving credit facility. The banks arranging the loans are Citigroup, Danske Bank, DnB NOR Bank, HSBC Bank, Nordea Bank Danmark and Skandinaviska Enskilda Banken. The proceeds from the share issue and the new loans will be used to repay the current senior and second-lien loans raised to back its leveraged buyout by Goldman Sachs Capital Partners and EQT in 2005.
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