bookrunners and mandated lead arrangers.
SEB and Citibank were mandated lead
arrangers.
The debt was originally arranged in May
2015 for three years with the same group of
BANKSû4HEûlNANCINGûWASûSPLITûBETWEENûAû
US$220m revolving credit facility, a €50m
TERMûLOANûANDûAû53MûTERMûLOAN
CINEWORLD LOAN HITS MARKETA US$4.3bn-equivalent leveraged loan
lNANCINGûBACKINGû"RITAINSûCINEWORLD
GROUP’s acquisition of US peer REGAL
ENTERTAINMENT GROUP has launched for
syndication.
Cineworld Group agreed a US$3.6bn cash
acquisition of US peer Regal Entertainment
'ROUPûINû$ECEMBERûûTOûCREATEûTHEû
world’s second-largest movie theatre
operator.
Barclays and HSBC are leading the loan
lNANCING ûWHICHûCOMPRISESûAû53BNû
seven-year covenant-lite term loan, which
will include an approximate US$1bn carve-
out denominated in euros and sterling.
0RICINGûONûTHEûDOLLARSûISûGUIDEDûATûBPû
over Libor, while the euros are guided at
300bp over Euribor and the sterling at
350bp over Libor. All are offered with a 0%
mOORûANDûûSOFT
CALLûFORûSIXûMONTHS
4HEûlNANCINGûALSOûINCLUDESûAû53Mû
lVE
YEARûREVOLVINGûCREDITûFACILITY
4HEûTERMûLOANûWILLûPART
lNANCEûTHEû
acquisitions, pay acquisition fees and
EXPENSESûANDûRElNANCEû#INEWORLDûANDû
Regal’s existing debt, while the revolving
credit will be used for working capital,
capital expenditure and general corporate
purposes.
AXILONE OUT WITH LBO DEAL!ûõMûLEVERAGEDûLOANûlNANCINGûBACKINGû
alternative investment manager Citic
Capital’s buyout of French packaging
company AXILONE has launched for syndication.
Barclays and RBC are leading the deal,
alongside Credit Suisse, which will be shown
to institutional investors at a lender meeting
on Tuesday.
4HEûlNANCINGûCOMPRISESûAûõMûSEVEN
YEARûlRST
LIENûTERMûLOANûAûõMû
YEARû
SECOND
LIENûLOANûANDûAûõMûSIX
YEARû
revolving credit facility.
Citic agreed to buy the company from
Oaktree Capital Management, it was
announced on November 6. Oaktree
acquired Axilone in 2011 and put it up for
SALEûDURINGûTHEûSUMMERûOFû ûHIRINGû
Rothschild to run the process.BANKS LINE UP FOR WYNDHAMBanks are preparing debt packages of up to
US$825m to back a potential sale of the
European rental assets of American
hospitality company WYNDHAM WORLDWIDE.
Wyndham, which owns brands including
the Ramada and Travelodge, put its
European Rental business up for sale last
year following a wider review in August. The
business could fetch around US$1bn.
Deutsche Bank and Goldman Sachs are
advising on the process.
Final bids are due at the end of January
and the sale has attracted interest from a
number of buyers including private equity
lRMSû"LACKSTONE û#6#ûANDû0!) ûASûWELLûASû
corporate buyers.
"ANKERSûAREûPREPARINGûDEBTûlNANCINGSûTOû
back a successful bid equating to up to 6.5
times the European rental assets’
approximate US$115m Ebitda.
The debt is expected to be in the form of
senior and second-lien loans, denominated
in euros.
The European business includes assets
such as James Villa Holidays and cottages.
com.Separately, Wyndham has received up to
53BNûINûlNANCINGûCOMMITMENTSûWITHû
Barclays and Deutsche Bank to support its
US$1.95bn purchase of La Quinta Holdings’
hotel operations.ALLOHEIM LAUNCHES BUYOUT LOANGerman nursing care provider ALLOHEIM
SENIOREN-RESIDENZEN has launched a €600m
loan deal backing Nordic Capital’s buyout of
the business.
The deal comprises a €500m covenant-lite
seven-year term loan B and a €100m 6.5-year
revolving credit facility.
A bank meeting is scheduled for Tuesday.
Nordic Capital is buying Alloheim from
The Carlyle Group for about €1.1bn
including debt, Reuters reported, valuing
THEûBUSINESSûATûAROUNDûûTIMESûITSûû
Ebitda of €88m.
Leverage for the deal is expected at over
ûTIMES ûMAKINGûITûONEûOFûTHEûMOREû
aggressive deals to come so far this year.
Nordic Capital prevailed in an auction
against DomusVi, backed by Intermediate
Capital Group, as well as buyout groups Ares
and Fosun.
Carlyle bought Alloheim in 2013 from
Star Capital.
Barclays, Deutsche Bank, Goldman Sachs and
JP Morgan AREûJOINTûBOOKRUNNERS
Pricing on the loans is still to be
determined, in a market poised to receive
SEVERALûFURTHERûJUMBOûBUYOUTûlNANCINGS û
which bankers say could prompt an increase
in spreads.
-AJORûUPCOMINGûDEALSûINCLUDEûTHEûBUYOUTû
of Unilever’s spreads business by KKR, and
Akzo Nobel’s chemicals arm that is up for
sale.
“I expect that the big deals will price
strongly but they might affect smaller
credits which need to attract attention,” one
investor said.Reach the people who matter
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