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Lexmark to refinance debt

Lexmark to refinance debt

September 24, 2019

Lexmark hires Swiss multinational investment bank UBS Group AG to lead the refinancing of its $1.8 billion (€1.63 billion) debt portfolio.

The Wall Street Journal that Lexmark has hired Swiss multinational investment bank UBS Group AG (UBS) to lead the refinancing of its $1.8 billion (€1.63 billion) debt portfolio and that Lexmark needs to address the near-term maturity of its $340 million (€309 million) senior notes due 15 March 2020.

These loan notes were raised in 2013 but left in place following the acquisition by the Ninestar Corporation in the summer of 2016.

In April 2016, The Recycler reported that the consortium led by Apex Technology Co. Ltd. and PAG Asia Capital, and including Legend Capital Management Co. Ltd., acquired Lexmark for $40.50 (€35.64) per share in an all-cash transaction with an enterprise value (including unfunded pension liabilities and disclosed restructuring costs) of approximately $4 billion (€3.5 billion) that was part funded with approximately $1.4 billion (€1.27 billion) of loans underwritten by China Citic Bank Corp. and other Chinese banks including Bank of China Ltd.

Categories : City News

Tags : City Debt Lexmark

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