Daily News: September 8, 2017

Credit Suisse, Jefferies Support Tekni Plex Buyout


Reuters reported Credit Suisse and Jefferies will lead a $1.028 billion debt financing to back the leveraged buyout of U.S. medical tubing and packaging company Tekni-Plex by private equity firm Genstar Capital from American Securities.

According to Reuters, the financing consisted of a $60 million asset-based revolving credit facility, a $708 million first-priority term loan with a $295 million equivalent carve out demoninated in euros and a $260 million bridge loan.