Eye-Care Company Veonet Shelves Leveraged-Loan Sale on Volatility
- The 795 million euro loan was due to fund acquisition of firm
- Companies likely to also put new bond sales on hold for now
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German eye-care firm Veonet Group has shelved a 795 million euro ($891 million) leveraged-loan sale due to market volatility in the wake of Russia’s invasion of Ukraine, according to people with knowledge of the matter.
The transaction, which was due to fund the acquisition of the business by Ontario Teachers’ Pension Plan Board and PAI Partners, was withdrawn as key gauges of credit-risk initially flared following the attack. Protein shake maker BellRing Brands Inc. also shelved a junk-bond offering that it had started marketing earlier this week.