Italian loan and real estate service company doValue S.p.A (the Issuer) has launched a new five-year €265 million senior secured bond to prepay a bridge facility used in the acquisition of 80% of the share capital of FPS Loans and Credits Claim Management Company S.A (FPS) by doValue Greece Holding S.M.S.A. (FPS HoldCo). It is contemplated that FPS HoldCo will merge into FPS (the Reverse Merger).
Investor meetings will be taking place until Wednesday, July 29, with pricing thereafter. Reorg calculates the opening senior secured leverage ratio to be 1.9x using €638.5 million senior secured debt, minus €162.4 million cash and cash equivalents and €244.7 million Cons. EBITDA. The opening net leverage ratio is calculated to be 2.5x, using €777.4 million total debt minus €162.4 million cash and cash equivalents and €244.7 million Cons. EBITDA.