LONDON Oct 13 Bankers are lining up around
400m of leveraged loans to back a potential sale of German
lighting maker SLV, banking sources said on Thursday.
Buyout group Cinven, which acquired SLV in 2011 from
HgCapital, shortlisted Ardian, 3i, Triton and Lone Star last
month to prepare second-round bids for the asset, which is
expected to be sold at a valuation of 750m-800m.
Leveraged loans totalling around 400m, equates to around 6
times SLV's approximate 65m Ebitda, the bankers said.
Both senior and subordinated loans are being considered, the
Cinven declined to comment.
Cinven's 2011 buyout was backed with a 295m loan led by GE
Capital, ING, Societe Generale and UniCredit, according to
Thomson Reuters LPC data.
Founded in 1979, SLV provides residential and technical
lighting products for indoor and outdoor use.
(Editing by Christopher Mangham)