UAX PRICES LBO FINANCING
3PANISHûHIGHERûEDUCATIONûINSTITUTIONû
UNIVERSIDAD ALFONSO X EL SABIO has priced a
õMûlNANCINGûBACKINGûITSûACQUISITIONûBYû
#6#
4HEûSEVEN
YEARûõû4ERMû,OANû"ûPRICEDû
ATûBPûOVERû%URIBORûTHEûTIGHTûENDûOFû
BPnBPûGUIDANCEûWITHûAûûmOORûANDû
ATûPARû4HEûDEALûWASûGUIDEDûATûANûû/)$ûATû
LAUNCH
4HEûDEALûWHICHûALSOûINCLUDESûAûõMû
REVOLVINGûCREDITûFACILITYûHASûSOFTûCALLû
PROTECTIONûFORûSIXûMONTHS
Credit Agricole, Banco Santander and Societe
Generale WEREûBOOKRUNNERSûANDûMANDATEDû
LEADûARRANGERS
/Nû-ARCHûû#6#ûENTEREDûINTOûANû
AGREEMENTûWITHû5!8ûFOUNDERû*ESUSû.UNEZû
ANDûOTHERûSHAREHOLDERSûTOûACQUIREûû
STAKEûINû5!8
5!8ûFOUNDEDûINûûISûONEûOFûTHEûLARGESTû
PRIVATEûHIGHERûEDUCATIONûINSTITUTIONSûINû
3PAINûWITHûûSTUDENTSûASûOFûTHEûENDûOFûLASTû
YEARû5!8ûPROVIDESûHIGHERûEDUCATIONûSERVICESû
WITHûAûFOCUSûONûHEALTHûSCIENCESûREPRESENTINGû
ABOUTûûOFûTOTALûûREVENUE
)TûRUNSûALLûOFûITSûOPERATIONSûINû-ADRIDû
THROUGHûTWOûCAMPUSESûTWOûDENTALûCLINICSûAû
MEDICALûCLINICûAûSIMULATEDûHOSPITALûAû
VETERINARYûHOSPITALûANDûANûEXPERIMENTALû
FARM
BIOGROUP PRICES €200m LOAN
&RENCHûLABORATORYûSERVICESûGROUPûBIOGROUP
LCDûHASûPRICEDûAûõMûlRST
LIENûTERMûLOANû"û
TOûFUNDûACQUISITIONS
4HEûCOVENANT
LITEûLOANûPRICEDûATûBPû
OVERû%URIBORûLOWERûTHANûITSûGUIDANCEûOFû
BPûWITHûAûûmOORûANDûATûPARû/)$û
GUIDANCEûWASû
4HEûDEALûWHICHûWILLûMATUREûINû*UNEûû
INCLUDESûûSOFTûCALLûPROTECTIONûFORûSIXû
MONTHS
4ICKINGûFEESûONûTHEû4,"ûSTARTûATûûOFûTHEû
APPLICABLEûMARGINûû
ûDAYSûAFTERûlNALû
ALLOCATIONûRISINGûTOûûOFûTHEûAPPLICABLEû
MARGINûûDAYSûAFTERûlNALûALLOCATION
JP Morgan and Natixis were the
BOOKRUNNERSûWHILEû.ATIXISûISûADMINûAGENT
4HEûlRMûLASTûTAPPEDûTHEûLOANûMARKETûINû
.OVEMBERûûFORûAûõMûADD
ONûTOû
FUNDûACQUISITIONS
"IOGROUPû,#$ûISûTHEûTHIRD
LARGESTûPLAYERûINû
ROUTINEûLABûTESTINGûANDûISûMAJORITY
OWNEDûBYû
3TEPHANEû%IMER
#ANADIANûPUBLICûPENSIONûFUNDû#$01û
INVESTEDûõMûINûTHEûGROUPûTOûSUPPORTûTHEû
GEOGRAPHICALûEXPANSIONûOFûTHEûCOMPANY
ASIA-PACIFIC
VENTIA FINCO SEEKS TLB EXTENSION
VENTIA FINCO, which maintains and manages
PUBLICûANDûPRIVATEûINFRASTRUCTUREûASSETSûINû
!USTRALIAûISûSEEKINGûTOûRAISEûANû
APPROXIMATELYû!Mû53M û
INCREMENTALûTERMûLOANûALONGSIDEûANû
amendment and extension of its existing
TERMûLOANS
0ROCEEDSûWILLûBEûUSEDûFORûGENERALû
CORPORATEûPURPOSESûINCLUDINGûFORûPERMITTEDû
ACQUISITIONSûANDûCAPITALûEXPENDITURE
4HEûAPPROXIMATELYû!MûTRANSACTIONû
COMPRISINGûINCREMENTALûTERMûLOANûANDû
!% ûISûTOûEXTENDûBOTHûOFûTHEûCOMPANYSû
EXISTINGûTERMûLOANSûAûROUGHLYû!MûTERMû
LOANûANDûAûROUGHLYû53MûTERMûLOANûBYû
FOURûYEARSûTOû-AYû
0RICINGûFORûTHEû!USTRALIANûDOLLARûTRANCHEûISû
BPûOVERû""39ûWITHûNOûmOORû4HEû53û
DOLLARûTRANCHEûISûPRICEDûATûBPûOVERû,IBOR
4HEû!MûINCREMENTALûLOANûWILLûBEû
AVAILABLEûINûBOTHû!USTRALIANûDOLLARSûANDû53û
DOLLARSû4HEûNEWûMONEYûISSUEDûINû!USTRALIANû
DOLLARSûISûOFFEREDûATûAûDISCOUNTûOFûûWHILEû
THEûNEWûMONEYûISû53ûDOLLARSûISûOFFEREDûATûANû
ISSUEûPRICEûOFû
%XISTINGûLENDERSûWILLûBEûPAIDûAûBPû
AMENDMENTûFEE
BarclaysûLEADSûTHEûTRANSACTIONûANZ, Credit
Suisse, Goldman Sachs and JP Morgan are the
MANDATEDûLEADûARRANGERS
6ENTIAûHADûCLOSEDûTHEûORIGINALû4ERMû,OANû
"ûATûAû!MûSIZEûINû-AYûû!TûTHEûTIMEû
ITûCOMPRISEDûAû53MûTRANCHEûAû!Mû
TRANCHEûANDûAû!MûlVE
YEARûREVOLVINGû
CREDITû3INCEûTHENûTHEûBORROWERûHASûMADEû
SOMEûREPAYMENTSûADD
ONSûAMENDMENTSû
ANDûEXTENSIONSûTOûTHEûFACILITY
)NûûANûAMENDMENTûTOûTHEû
DOCUMENTATIONûWASûCARRIEDûOUTû0RIORûTOû
THATûINû-ARCHûû6ENTIAûCOMPLETEDûAû
!MûDUAL
CURRENCYûADD
ONûANDûREPRICINGû
TOûFUNDûAûDIVIDENDûPAYMENTûTOûITSû
SHAREHOLDERSû#)-)#û'ROUPûANDû!POLLOû
'LOBALû-ANAGEMENT
6ENTIAûPREVIOUSLYûCALLEDû,3û.EW#Oû
COMPRISESûTHEûMERGEDûBUSINESSESûOFû
,EIGHTONû#ONTRACTORSû3ERVICESûANDû4HIESSû
3ERVICES
Are your colleagues as
well-informed as you?
As a subscriber to IFR, you will already be aware of its standing as the
world’s leading source of global capital markets coverage. But are your colleagues?
If there are other people in your team, department or company who you think would benefit
from the authoritative and independent content that IFR offers, you should know that
considerable discounts are available to companies with multiple subscriptions.
To discuss your requirements, please contact your local IFR representative:
EMEA: +44 (0)20 7542 45 69, [email protected]
Americas: +1 (646) 223 5543, [email protected]
Asia-Pacific and Japan: +852 291 26606, [email protected]