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

Bloomberg Customers

Crown Said to Seek $2.8 Billion of Loans to Back Mivisa Deal

Crown Holdings Inc. is seeking $2.8 billion of loans to help pay for its purchase of Spanish food-can maker Mivisa Envases SAU from Blackstone Group LP, according to a person with knowledge of the deal.

Most of the debt will be dollar-denominated, consisting of a $1.2 billion revolving credit line, an $800 million term loan and a $300 million credit facility, said the person, who asked not to be identified because terms aren’t set. The deal also includes a 400 million-euro ($539 million) term loan.

Crown is buying Mivisa, the largest producer of cans for food in the Iberian peninsula and Morocco, from a group of investors including Blackstone in a cash deal valued at 1.2 billion euros, according to a company statement on Oct. 31. The acquisition is expected to close next year.

Philadelphia-based Crown proposed paying lenders 1.75 percentage points more than lending benchmarks for the two term loans it’s seeking, and 2 percentage points more than the London interbank offered rate for the $300 million portion, the person said.

Michael Dunleavy, a spokesman for Crown, declined to comment on the financing.

Citigroup Inc. is arranging the debt, according to the person. Under a revolver, money can be borrowed again once it’s repaid; in a term loan, it can’t.

Please upgrade your Browser

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

Chrome, Firefox, Safari, Opera or Internet Explorer.