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LPC-CVC's Corialis buy backed with 635m-equivalent loan

Reuters - UK Focus

By Claire Ruckin and Hannah Brenton

LONDON, Jan 5 (Reuters) - CVC Capital Partners' buyout of Belgian aluminium systems manufacturer Corialis will be backed with a 635m-equivalent leveraged loan, banking sources said on Thursday.

Credit Suisse (IOB: 0QP5.IL - news) , Rabobank and UBS (LSE: 0QNR.L - news) are physical bookrunners, while BNP Paribas (LSE: 0HB5.L - news) and Deutsche Bank (IOB: 0H7D.IL - news) are bookrunners on the financing, the sources said.

The loan is expected to launch for syndication to investors within the next couple of weeks, the sources said.

The financing is split between a 505m-equivalent first-lien tranche, including a 150m sterling-denominated carve out as well as a 130m-equivalent sterling-denominated second-lien tranche, pre-placed with Park Square Capital, MV Credit and EQT.

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CVC (Taiwan OTC: 4744.TWO - news) was not immediately available to comment. MV Credit and EQT declined to comment.

CVC announced on December 9 it had entered into exclusive negotiations with Advent International to acquire Corialis.

Corialis is a supplier of aluminium systems for windows, doors, conservatories and curtain walls across countries including Belgium, France, the UK and Poland. (Editing by Christopher Mangham)