Blackstone’s Mivisa Said to Get Lender Backing for Dividend Loan

Mivisa Group, the Spanish food-can maker partly owned by Blackstone Group LP, got lenders to agree to a 145 million-euro ($187 million) loan to pay its owner a dividend, according to three people familiar with the matter.

The term loan C will pay an interest margin of 450 basis points more than benchmarks, said the people, who asked not to be identified because the deal is private. The six-year debt priced at 99.5 percent of face value, two of the people said. A basis point is 0.01 percentage point.

The loan funds a 185 million-euro payout to Mivisa’s owners, along with cash from the Murcia, Spain-based company, people said previously. Deutsche Bank AG and Barclays Plc arranged the new facility, the people said.

Andrew Dowler, a London-based spokesman for Blackstone, declined to comment on the financing.

Blackstone, Dinamia Capital Privado SCR SA, and N+1 Private Equity SA acquired Mivisa from CVC Capital Partners Ltd. in a deal that closed in April 2011. The transaction valued Mivisa at about 900 million euros, people familiar with the matter said at the time.

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE