Italy's Cerved to bring €780 million junk bonds for buyout financing

By Paul A. Harris

Portland, Ore., Jan. 3 - Cerved Group SpA plans to sell €780 million of high-yield bonds in January, according to a market sources.

The bonds are expected to come in secured and unsecured tranches, and the offering is also expected to include floating-rate notes, according to a sell-side source, who added that the deal announcement will likely come in the near term.

Proceeds will be used to help fund the acquisition of Cerved by CVC Capital Partners Ltd. from Bain Capital.

Credit Suisse Group AG, Deutsche Bank AG and HSBC Holdings plc are leading the debt financing, which also includes a €75 million revolver.

Cerved is a Milan, Italy-based credit information services provider.

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