Fri 02/03/2023 12:32 PM
The €1.575 billion-equivalent term loan B part funding CVC’s 2021 buyout of Unilever’s global tea business Ekaterra has gained around 7-8 points since it started trading in the secondary market earlier this year. The debt, which came to market late last year, had been
sold in blocks by underwriters in the low 80s late last year.
The price lift has been technical as investors find the deal challenging due to its steep opening leverage, aggressive addbacks, a structurally declining core...
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