Charterhouse’s BvD Said to Get Junior Debt Refinancing ConsentJulie Miecamp
Bureau van Dijk Electronic Publishing BV, the information provider owned by Charterhouse Capital Partners LLP, is said to have received permission from its lenders to replace 140 million euros ($181 million) of mezzanine debt with a term loan.
A majority of the Dutch company’s lenders agreed to the request before a March 25 deadline, according to two people with knowledge of the deal who asked not to be identified because the matter is private.
The term loan C, which is being arranged by ING Groep NV and Nomura Holdings Inc., is available in dollars, euros and pounds and will total as much as 140 million euros. Portions of the debt denominated in euros and dollars will pay an interest margin of 475 basis points more than benchmark rates, while the the pound debt will pay 500 basis points.
Investors who responded to the proposal by March 20 will be awarded a consent fee of 25 basis points, while those who agreed before the deadline will get 8 basis points. A basis point is 0.01 percentage point.
Gary Sunderland, the head of information resources at London-based Charterhouse, did not reply to an e-mail seeking comment.
The buyout firm acquired BvD in 2011 backed by 365 million euros of senior loans and 140 million euros of mezzanine debt maturing in 2019, according to data compiled by Bloomberg.