Banks Kick Off $2.55 Billion Loan Deal for Nuvei Buyout
- The acquisition financing features a seven-year term loan
- Deal is latest sign of life in market hungry for new money
Philip Fayer, founder and chief executive officer of Nuvei Corp.
Photographer: Allen McInnis/BloombergThis article is for subscribers only.
A group of underwriters led by Bank of Montreal launched a $2.55 billion loan Monday to back the acquisition of Nuvei Corp., marking the biggest buyout deal since April.
The seven-year term loan will help fund the $6.3 billion leveraged buyout of the Canadian payments processor by Advent International, management, Novacap and CDPQ, according to people with knowledge of the matter.