Alinda begins South Staffs refinancing
- From: Vol 9, Issue 4 (April 2008)
- Category: General
- Region: Europe
- Country:
The new owner of South Staffordshire is planning to increase the group’s gearing. Standard & Poor’s reacted by downgrading the holding company to ‘BBB-’.
The US fund that acquired South Staffordshire at the end of October has taken out a £100 million five-year bank loan as part of its long-term financing strategy for the group. Barclays Capital arranged and underwrote the ‘BBB-’ rated facility.
The loan has been put in place at the group level, and will be serviced by cashflows from the non-regulated ...
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