ICG Seeks to Raise Senior-Debt Fund, Sunday Telegraph Reports

Intermediate Capital Group Plc, (ICP) Europe’s largest provider of debt for leveraged buyouts, plans to raise a senior-debt fund from institutional investors, the Sunday Telegraph reported, citing the company.

Intermediate Capital, which manages 12 billion euros ($15.9 billion), said it’s “actively considering” the plan, according to the newspaper. It would be the first time the debt provider has raised a senior-debt fund and reflects the withdrawal of banks from the buyout market, the newspaper said.

A spokesman for Intermediate Capital said a decision would be made “reasonably shortly,” the Telegraph reported.

To contact the reporter on this story: Rob Sheridan in London at rsheridan6@bloomberg.net

To contact the editor responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.