Oct. 26 (Bloomberg) -- Bridgepoint and Canada Pension Plan Investment Board hired Societe Generale SA to lead banks arranging about 485 million euros ($625 million) of loans to refinance debt of Dorna Sports S.L., according to two people with knowledge of the matter.
Bank of Ireland, Goldman Sachs Group Inc. and ING Groep NV, existing lenders to the Madrid-based sports management company, are also arranging the loan, said the people, who asked not to be identified because the deal is private. Lenders will be invited to a meeting in Madrid on about Nov. 6, they said.
The financing comes after Canada Pension Plan acquired a 39 percent stake in the Madrid-based company, holder of rights to the MotoGP motorbike racing series and FIM World Superbikes Championship. Bridgepoint bought the business in 2006 from CVC Capital Partners.
James Murray, a spokesman in London for Bridgepoint, declined to comment on the debt financing.
The financing includes senior and junior-ranking debt and will represent about six times the company’s forecast 2012 earnings before interest, tax, depreciation and amortization of 80 million euros, said the people. Part of the deal includes 85 million euros of debt from Goldman Sachs to fund repayment of shareholder loans, said the people.
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