TRLPC-Bridgepoint backs eFront buyout with 130 mln euro loan [Reuters]
GOVERNOR & CO BANK IRELAND (IRE)
Company Research
Source: Reuters
LONDONJan 23 (Reuters) - Banks have lined up around 130million euros ($145.89 million) of loans to back private equityfirm Bridgepoint's buyout of French software firm eFront,banking sources said on Friday.Bridgepoint agreed to acquire eFront in January for around300 million euros, the banking sources said.HSBC, ING, Bank of Ireland and direct lender Babson Capitalhave provided the financing which includes a term loan A, termloan B, capital expenditure facility and revolver.The leveraged loan financing is denominated in euros anddollars and a portion of it will be sold in a limitedsyndication process, the banking sources said.The debt financing totals around five times Earnings BeforeInterest, Taxes, Depreciation and Amortisation (EBITDA), thesources said.Bridgepoint was not immediately available to comment.eFront provides software to the alternative investmentindustry. ($1 = 0.8911 euros) (Editing byChristopher Mangham)
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