The loan portion of the SfR 3.3bn (E2.5bn) financing supporting CVC’s LBO of Swiss mobile operator Sunrise has been launched into syndication with banks due to commit by early November, TelecomFinance has learned.
Banks looking to participate in the…
The loan portion of the SfR 3.3bn (E2.5bn) financing supporting CVC’s LBO of Swiss mobile operator Sunrise has been launched into syndication with banks due to commit by early November, TelecomFinance has learned.
Banks looking to participate in the general syndication will need to commit Sfr25m (E18.6m) for lead arrangers roles and Sfr10m (E7.4m) for arrangers roles.
DnBNor, ING, Macquarie, Mediobanca and Mitsuo are understood to have already taken tickets during an early bird phase. The debt portion of the deal, which accounts for 70% of the total consideration, comprises a SFr820m (E612m) senior term loan, SFr800m (E597m) senior secured notes, SFr675m (E504m) senior unsecured notes, SFr150m (E112m) revolver and SFr100m (E75m) acquisition facility. BNP Paribas, Deutsche Bank and UBS are acting as global coordinators and MLAs, while Société Générale and Unicredit are MLAs and joint bookrunners for the transaction.
