Investors cheer bumper Stada buyout

摘要

The €3bn debt package backing the buyout of German drugmaker STADA is the largest European leveraged financing so far this year and gives investors the new buyout deal they have been calling for amid a relentless round of repricing and refinancing. Private equity firms Bain Capital and Cinven won an auction for Stada last Monday after substantially increasing a previous bid to about €5.3bn. Stada said that the buyers would fund about half of the deal with €2.6bn in equity and the rest with debt.