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Vistra to launch $700 million term loans in New York, London this week
By Sara Rosenberg
New York, July 6 – Vistra Group will hold a bank meeting in London on Wednesday and one in New York on Thursday to launch $700 million in term loans, according to sources.
Goldman Sachs Bank USA, Credit Suisse Securities (USA) LLC, Jefferies Finance LLC and DBS Bank are the leads on the deal.
The debt consists of a $515 million seven-year U.S dollar and euro first-lien term loan and a $185 million eight-year U.S. dollar and euro second-lien term loan, sources said.
Along with the term loans, the company will be getting a new revolver.
Proceeds will be used to help fund the buyout of the company by Baring Private Equity Asia from IK Investment Partners.
Closing is subject to regulatory approvals.
Vistra Group is a Hong Kong-based provider of company formations, trust, corporate and fund administration services.
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