Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

KKR Said to Propose $463 Million Investment in Hilding Anders

KKR & Co., the private-equity company that backed Europe’s largest-ever buyout deal, will invest 350 million euros ($463 million) in Hilding Anders AB, allowing the 74-year-old Swedish bedmaker to reduce its debt, according to two people with knowledge of the situation.

The funds will repay 200 million euros of Hilding Anders’s term loan B debt, said the people, who asked not to be identified because the deal is private. The investment will be in the form of payment-in-kind notes, a type of funding where interest can be paid using more debt.

The proposed funding comes after shareholder Arle Capital Partners Ltd. planned to sell the Malmo, Sweden-based company for as much as 10 billion kronor ($1.5 billion), a person familiar with the situation said earlier this year. Arle, formerly known as Candover Partners Ltd., acquired the business in 2006 backed by about 930 million euros of debt, according to data compiled by Bloomberg. The business restructured its finances in 2009, according to a statement on Arle’s website.

A spokeswoman for KKR, who asked not to be identified citing company policy, declined to comment on the investment. Daniel Oelker, a spokesman for Hilding Anders, also declined to comment, as did a spokeswoman for Arle, who asked not to be identified.

Loan Extension

The investment is conditional on the company getting lenders to agree a three-year loan extension, the people said. The longer-maturity debt would pay interest margins 150 basis points, or 1.5 percentage points, higher than existing loans, and lenders have been offered a 50 basis-point fee if they approve the request by August 20, the people said. Deutsche Bank is coordinating the request.

KKR’s funds will help cut Hilding Anders’s leverage ratio, a measure of debt to earnings before interest, taxes, depreciation and amortization, to less than 4.5 times from more than 7 times, the people said.

Hilding Anders, whose customers include Ikea, reported Ebitda in 2012 of 122 million euros and net sales of 851 million euros, according to a statement on the company’s website.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.