Cegid to Launch €1B Plus Dividend Recapitalization Including €700M TL Add-on, PIK Notes
Tue 09/12/2023 13:04 PM
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French software company Cegid is expected to launch a dividend recapitalization of over €1 billion in the coming days, sources said.

The financing package will include a €700 million term loan, the sources said. There are also about €400 million of payment-in-kind notes being raised at the holding company level.

The deal is in pre-marketing led by BNP Paribas, said one of the sources.

The company has an €880 million term loan B, which priced at E+350 bps with a 99.5 OID in 2021. The debt is...
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