Chicago, July 20 – LSF XI Magpie Bidco BV/SRL (Manuchar NV) issued €350 million of 7¼% senior secured notes due 2027 (B3/B) for the buyout of Manuchar by equity firm Lone Star.
Credit Suisse International was managing the sale, according to multiple announcements.
Proceeds will be used to finance Lone Star's purchase of Manuchar, refinance debt, pay for transaction-related fees and finance general corporate purposes, according to a press release. The transaction closed June 30.
Manuchar is a distributor of chemicals across emerging markets and is based in Antwerp, Belgium. Private equity firm Lone Star is acquiring Manuchar from AvH Growth Capital.
| Issuer: | LSF XI Magpie Bidco BV/SRL
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| Amount: | €350 million
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| Issue: | Senior secured notes
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| Maturity: | 2027
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| Bookrunner: | Credit Suisse International
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| Counsel to underwriter: | Milbank LLP
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| Coupon: | 7¼%
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| Announcement date: | July 20
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| Ratings: | Moody’s: B3
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| S&P: B
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