Doughty Hanson to issue sterling ABS

Doughty Hanson, the UK-based venture capital firm, is expected to issue a £700m securitisation.

Doughty Hanson, the UK-based venture capital firm, is expected to issue a £700m securitisation.

Rumours point to the deal being for Ranks Hovis McDougall. The venture capital firm bought the food business from Tomkins last year for £1.1 bn.

JP Morgan Chase has been mandated to lead manage the ABS. The bonds will be secured against Ranks Hovis McDougall's cash flow. More details will be available at the end of this week.

This story was taken from deal-watch.com. Click here to view the story.