Cobham to launch new credit facilities during Jan. 20 week

By Sara Rosenberg

New York, Jan. 16 – Cobham plc is scheduled to hold a bank meeting in London on Monday and at noon ET in New York on Tuesday to launch its proposed credit facilities, according to a market source.

In July, the company announced that it is being acquired by Advent International Corp. for 165 pence in cash per share, or about £4 billion on a fully diluted basis.

As committed, the funding for the buyout is expected to consist of a £275 million multi-currency revolving credit facility, a £1.71 billion equivalent U.S. and euro first-lien term loan B and a £532 million U.S. dollar equivalent pre-placed second-lien term loan.

Goldman Sachs, Credit Suisse and Citigroup Global Markets are the senior arrangers on the credit facilities.

Cobham is a Wimborne Minster, U.K.-based technology and services innovator in diversified industries including defense and commerce.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.