VNU holds senior managing agent meeting for €4.7 billion facility

By Sara Rosenberg

New York, May 23 - VNU NV held a senior managing agent bank meeting on Tuesday to launch its proposed €4.7 billion credit facility, according to a market source.

Citigroup, Deutsche Bank and JPMorgan are the lead banks on the deal, with Citi the left lead.

A general syndication bank meeting has not yet been scheduled, the source said.

The facility consists of a €550 million multi-currency revolver and a €4.15 billion term loan B.

Of the total term loan B size, €380 million will be strictly a European carve-out and the remainder will most likely be syndicated in the U.S., the source said.

Proceeds from the credit facility will be used to help fund the acquisition of VNU by Valcon Acquisition BV, a company controlled by a private equity group consisting of affiliated funds of AlpInvest Partners NV, The Blackstone Group LP, The Carlyle Group, Hellman & Friedman LLC, Kohlberg Kravis Roberts & Co. LP and Thomas H. Lee Partners LP.

VNU is a Netherlands-based information and media company.

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