Aquarion preps debt refinancing
- From: Vol 12, Issue 3 (March 2011)
- Category: General
- Region: Americas
- Country: United States
- Related Companies: Aquarion and Macquarie
Macquarie will have to pay up to roll over the acquisition debt it took out to buy Aquarion. It is also under pressure to streamline group liquidity.
Macquarie is planning to refinance $320 million of acquisition debt taken out in 2007 to part-fund its takeover of Aquarion, ahead of the possible sale of part of its equity stake later this year.
The debt – held at the senior holding company level within the Aquarion group structure – is due to roll off in April 2012, and represents a significant ...
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