Selecta gets €220 million mezzanine debt as part of recapitalization

By Lisa Kerner

Charlotte, N.C., June 23 – Selecta Group BV, a subsidiary of Allianz Capital Partners, announced it was provided with €220 million of mezzanine debt by investment firm KKR Asset Management as part of its plan to recapitalize and repay in full its senior credit and mezzanine facilities.

The company said the early refinancing of its capital structure provides flexibility for investments in its machine park and the further implementation of its ongoing growth strategy.

Selecta also placed a senior secured note in two tranches totaling €550 million at a yield of 6½%, according to a company news release.

Selecta is a Cham, Switzerland-based provider of vending equipment. Allianz is a financial services provider is based in Munich.

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