RLPC-BC Partners raises $1.4 bln for Gruppo Coin buyout

LONDON May 10 (Reuters) - Private equity firm BC Partners [BCPRT.UL] is to raise 985 million euros ($1.38 billion) of loans to back its buyout of Italian clothing retailer Gruppo Coin GCN.MI.

The loan, which is the largest European leveraged buyout loan this year, is being arranged by Banca IMI, BNP Paribas, Credit Agricole CIB, HSBC, Mediobanca, Natixis, UBS and Unicredit, the banks said in a statement on Tuesday.

The loan is split between a term loan A and B, paying 450 basis points (bps) and 500 bps over EURIBOR, respectively. There is also a revolving credit and a capital expenditure facility.

The loans will be syndicated to a selected group of banks and institutional loan investors over the next few weeks.

BC Partners said on Monday that it would acquire 78.7 percent of Coin from private equity firm PAI Partners in a deal that values the group at close to 1.3 billion euros. The transaction is subject to antitrust authority approval. [ID:nLDE74809Q]

(Reporting by Isabell Witt. Editing by Jane Merriman)