Reuters logo
LPC-Charterhouse backs Cooper buy with 400mln euro leveraged loan
October 15, 2015 / 4:22 PM / in 2 years

LPC-Charterhouse backs Cooper buy with 400mln euro leveraged loan

LONDON, Oct 15 (Reuters) - Banks have arranged around 400 million euros ($456.16 million) of leveraged loans to back British private equity firm Charterhouse’s acquisition of French pharmaceuticals company Cooper, banking sources said on Thursday.

Charterhouse beat rival private equity firms to buy Cooper, which was sold by French investment firm Caravelle for as much as 700 million euros.

Nomura and Morgan Stanley are physical bookrunners on the debt financing and Deutsche Bank and Royal Bank of Scotland are expected to be bookrunners. The financing is expected to syndicate to institutional investors in November, the sources said.

The financing is expected to total just over six times Cooper’s earnings before interest, taxes, depreciation and amortisation (EBITDA) of approximately 65 million euros.

Cooper, an over-the-counter pharmaceuticals company, had revenues of 198.7 million euros in 2013, according to its website.

Charterhouse is also selling UK medical firm Tunstall, which provides care services and assisted living for elderly and disabled people at home. ($1 = 0.8769 euros) (Editing by Tessa Walsh)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below