Magotteaux Hires Banks to Arrange Its First Syndicated Loan

Dec. 1 (Bloomberg) -- Magotteaux International SA, the grinding equipment maker owned by private-equity firm IK Investment Partners, hired banks to arrange its first syndicated loan, lenders said today in a statement.

The Belgian company is seeking 210 million euros ($275 million) from a term loan and revolving credit facilities, according to the statement.

BNP Paribas SA, ING Groep NV, and KBC Groep NV are arranging the transaction for Liege, Belgium-based Magotteaux.

IK Investment, formerly known as Industri Kapital AB, took a majority stake in Magotteaux in February 2007. Magotteaux makes tools used by mining, recycling and cement firms, according to its website.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net