Moody’s assigns EVRY loans B1

Moody's Investors Service said it assigned a provisional B1 corporate family rating to Lyngen Midco AS (EVRY ASA).

Concurrently, the agency assigned provisional B1 ratings to the NOK 900 million term loan A, NOK 3.6 billion equivalent term loan B and NOK 1 billion revolving credit facility, all issued on a senior secured basis by Lyngen Bidco AS.

The outlooks are stable.

Proceeds will be used to partially finance the acquisition of EVRY ASA by Lyngen Bidco, indirectly controlled by the Apax Funds, pay transaction costs and will have NOK 180 million of cash overfunding, which is to remain on the balance sheet at closing.

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