| LONDON, July 2
LONDON, July 2 CVC's acquisition of French
healthcare company Vedici will be backed with a 325 million euro
($443.32 million) leveraged loan financing, banking sources
CVC agreed at the end of June to acquire Vedici from 3i and
NiXEN, a spin-off of the French midcap team from Natixis Private
Equity, which bought the business in 2010 from Apax Partners.
BNP Paribas, Credit Agricole, ING, Natixis, and Societe
Generale have lined up debt financing to back the deal, which
was shown to investors at a bank meeting in Paris last week.
Commitments from lenders are due July 11, the banking sources
The deal includes a 200 million euro term loan B, paying 425
basis points (bps) over Euribor; a 75 million euro capital
expenditure facility, paying 425bp over Euribor; and a 50
million euro revolving credit facility, paying 375bp over
CVC declined to comment.
Founded in 2000, Vedici is one of the main players in the
private healthcare sector in France employing around 5,300
staff. It had annual turnover of 547 million euros as of
December 2012, according to 3i's website.
($1 = 0.7331 Euros)
(Editing by Christopher Mangham)