Buyout Financing

TIBCO Obtains Commitments for $4.3B Buyout

JPMorgan and Jefferies have committed debt financing for the $4.3 billion buyout of software firm TIBCO by private equity firm Vista Equity Partners.

Grocery Outlet Launches $725M Loan Package

Grocery Outlet is preparing a $725 million, first- and second-lien loan offering to finance its buyout by San Francisco-based Hellman & Friedman from Berkshire Partners of Boston, according to sources close to the deal.

Access CIG Seeks $543M in Loans for Berkshire Buyout

Sources close to the deal say records and information management firm Access CIG is being acquired by Boston-based Berkshire Partners, in a buyout deal to be financed with a proposed $534 million in loans.

Berlin Packaging, ProQuest Finalize Loan Terms

Berlin, a food/beverage and retail packaging firm, set its $840 million facility at the low end of price talk. Library content provider ProQuest was on the wide end of talk at it priced a $435 million loan.

Wheelabrator Launches $1.71B Buyout Loan

Wheelabrator Technologies, a waste-to-energy facility operator owned by Waste Management Inc., is launching a $1.71 billion loan proposal to fund its acquisition by private equity firm Energy Capital Partners.

Two Issuers Complete Loan Offerings

Two issuers allocated were planning the allocation of loans today, including Ranpak Corp’s $600 million offering to fund its buyout by Rhone Group, according to sources.   Ranpak, a manufacturer of green-friendly, paper-based packaging systems, is completing a two-tranche proposal consisting of a $435 million, multi-currency seven-year first-lien term loan and a $135 million second-lien facility. The first-lien loan is split between a $233 million dollar-denominated piece as well as a €157 million tranche. …

Berlin Packaging Reverse-Flexes on $840M in Loans

An $840 million buyout loan proposal from Berlin Packaging was reverse flexed Monday, with both first- and second-lien tranches in the offer tightening from 25 to 50 bps, according to sources.

Answers Corp. Launches $535M Loans Proposal

Price talk has emerged for a $535 million loan package proposed by in its announced buyout by Apax Partners, according to sources.

Thomson: Leveraged Buyout Debt Levels Nearing 2007 Peak

Escalating purchase-price multiples are fueling higher leverage levels in 2014 corporate buyouts, which are nearing peak 2007 LBO leverage levels, according to Thomson Reuters LPC.

Caesars in Restructuring Talks with Bondholders

Debt-laden gaming and casino giant Caesars Entertainment said it is in restructuring talks with bondholders. The company said it was “clearing the path” to start formal discussions with first-lien creditors.


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