Alstom Auxiliary to launch €430 million in term loans on Wednesday

By Sara Rosenberg

New York, May 23 - Alstom Auxiliary Components is scheduled to hold a bank meeting at 10:30 a.m. ET in New York on Wednesday to launch €430 million of new term loans, according to a market source.

Citigroup Global Markets Inc., Barclays, ING Financial Markets LLC, RBC Capital Markets and Societe Generale are the lead banks on the deal.

The debt consists of a €310 million equivalent dollar and euro first-lien term loan B and a €120 million dollar-equivalent second-lien term loan, the source said.

In April, it was announced that the Alstom Auxiliary Components business would be acquired by Triton from Alstom for around €730 million.

The transaction is expected to close before the end of the first half of fiscal year 2014/2015.

Alstom Auxiliary Components is a Mannheim, Germany-based company active in air preheaters and gas-gas heaters for thermal power plants, heat transfer solutions for a variety of petrochemical and industrial processes, and grinding mills for diversified industrial applications.

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