Bidders for Spain's MasMovil secure increased financing package
Reuters
Published Jul 02, 2020 02:09PM ET
MADRID (Reuters) - A consortium bidding to buy Spanish telecoms operator MasMovil (MC:MASM) secured a loan of 2 billion euros ($2.25 billion) to finance the deal, according to a term sheet from one of the lead managing banks.
The seven-year loan, which private equity firms Cinven, KKR (N:KKR) and Providence aim to use the finance the bid, was increased in size from an originally targeted 1.5 billion euros.
Barclays (L:BARC) , BNP Paribas (PA:BNPP), Morgan Stanley (N:MS) and Deutsche Bank (DE:DBKGn), acted as joint global coordinators, while Credit Agricole (PA:CAGR), Mizuho and Santander (MC:SAN) were bookrunners.
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Written By: Reuters
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