Interplex LBO loan to test jittery market

摘要

Baring Private Equity Asia hopes that abundant liquidity in a deal-starved Asian loan market will help it pull off a US$455.75m financing to buy out interplex holdings, despite market volatility and the target's chequered credit history. The PE firm is seeking five-year funds to back the S$450m (US$320m) LBO at a time when Interplex's business in the automotive, electronic casing, mass storage and consumer and industrial electronics sectors is under pressure from weak global economic growth. The company's revenue for the first half of the financial year ending June 30 declined 5% year-on-year to US$465.4m, it said earlier this month, citing weaker end-market demand across many industry sectors due to the economic slowdown in China.