Daily News: July 20, 2018

Marlink Pulls JPMorgan-led $725MM Recap from Market


Reuters reported Norwegian satellite navigation group Marlink has withdrawn its €622 million ($725 million) dividend recapitalization loan from the market.

According to Reuters, JPMorgan was sole bookrunner and joint global coordinator alongside BNP Paribas, Crédit Agricole, DNB and HSBC for the proposed €280 million ($326 million) and $190m seven-year covenant-lite term loan B tranches, a $100 million eight-year covenant-lite second-lien facility and a €92 million ($107 million) 6.5-year revolving credit facility.