3i Said to Set Terms on $280 Million of Etanco Buyout Loans
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3i Group Plc, Britain’s biggest publicly traded private-equity firm, has set terms for 205 million euros ($280 million) of loans to be used to finance its buyout of French building-product maker Etanco, according to a person with knowledge of the situation.
The financing includes an 85 million-euro, seven-year term loan paying an initial interest margin of 500 basis points more than the euro interbank offered rate, said the person, who didn’t want to be identified because the deal is private. A basis point is 0.01 percentage point.