| LONDON, July 28
LONDON, July 28 Buyout group KKR's
offer to take full control of German listed cutlery and
coffee-machine maker WMF will be backed with a 600
million euro leveraged loan financing, banking sources said on
KKR, which already owns 72 percent of WMF, launched an offer
earlier this month to take full control of the company, which it
then plans to delist from the Frankfurt stock exchange.
Commerzbank and Deutsche Bank are leading the debt financing
to back the deal which is due to be launched for syndication to
investors after the summer, the banking sources said.
The senior loan financing comprises a 550 million euro term
loan B and a 50 million euro revolving credit facility, the
banking sources said.
KKR and WMF were not immediately available to comment.
WMF has two business units including a consumer business,
which provides a range of products for private households under
the brands alfi, Auerhahn, Kaiser, Silit and WMF. The second
unit manufactures fully automatic coffee machines for
professional use under the brands Schaerer and WMF that are
supplied to hotels, cruise ships, cafes and bistros, according
to WMF's website.
(Editing by Christopher Mangham)