Bloomberg News

Axa Private Equity Sets Lender Meeting for Photonis LBO Loan

September 26, 2011

Sept. 26 (Bloomberg) -- Axa Private Equity will market 240 million euros ($322 million) of senior leveraged loans for Photonis Technologies SAS at a meeting for prospective lenders tomorrow in Paris, banks arranging the transaction said.

The debt to fund the buyout of the photo sensor technology provider is being arranged by ING Groep NV, Societe Generale SA and IKB Deutsche Industriebank AG, the banks said in a statement. They began syndicating it last week.

Axa’s buyout unit is paying for more than half the acquisition price with equity, according to the statement. The buyout is also funded by 50 million euros of junior-ranking mezzanine debt, according to data compiled by Bloomberg.

--Editor: Cecile Gutscher, Andrew Reierson

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net


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