Apax Said to Plan $1.5 Billion Orange Switzerland LBO Financing
January 27, 2012, 12:56 PM ESTBy Patricia Kuo and Stephen Morris
Jan. 26 (Bloomberg) -- Apax Partners LLP plans to raise 1.4 billion Swiss francs ($1.5 billion) of loans and bonds for its leveraged buyout of France Telecom SA’s Orange Switzerland mobile-phone unit, said two people with knowledge of the deal.
The financing includes 225 million francs of term loan A, 400 million francs of term loan B, 100 million francs of revolving credit and 125 million francs of credit facility for capital expenditure, said the people, who declined to be identified because the deal is private.
Orange Switzerland will also sell 325 million francs of senior secured bonds and 225 million francs of senior unsecured notes, the people said.
Citigroup Inc., Credit Suisse Group AG, Deutsche Bank AG, JPMorgan Chase & Co., Morgan Stanley and UBS AG are arranging the financing, said the people.
Ben Harding, a spokesman for Apax in London, hadn’t responded to e-mail and phone messages seeking comment.
Apax agreed to buy Orange Switzerland for 1.6 billion euros ($2.1 billion), France Telecom said in a statement Dec. 23.
--Editors: Dennis Fitzgerald, Faris Khan
To contact the reporters on this story: Patricia Kuo in London at pkuo2@bloomberg.net; Stephen Morris in London at smorris39@bloomberg.net
To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net
