BC Partners, the private equity group, has agreed to buy the €155m (US$205.7m) PIK bond outstanding as part of the debt financing package for the acquisition of Com Hem, according to a person with knowledge of the situation.
The news, first reported…
BC Partners, the private equity group, has agreed to buy the €155m (US$205.7m) PIK bond outstanding as part of the debt financing package for the acquisition of Com Hem, according to a person with knowledge of the situation.
The news, first reported by Reuters, means that the whole debt package of SEK 13.2bn (US$1.9bn) has now been successfully placed in the market.
The PIK deal has an implied yield of 15.5-16%.
Following this transaction underwriters BoA Merrill Lynch, Goldman Sachs, Deutsche Bank, Nordea, Morgan Stanley and UBS have now cleared their books.
BC Partners acquired Swedish cableco Com Hem in July from Carlyle and Providence. The debt package for the transaction had to be rearranged twice due to current market conditions, which made it difficult to place the loans and bonds.
