Nord Anglia buy backed with $2.5 bln debt financing: Reuters

Bankers have lined up to US$2.5 billion-equivalent of debt financing to back the acquisition of publicly-listed Hong Kong-based international schools operator Nord Anglia Education Inc, banking sources told Reuters. Global coordinators Deutsche Bank and HSBC, alongside bookrunners Credit Suisse and Macquarie, have underwritten a debt financing, which will be in the form of leveraged loans. The financing is set to be syndicated to institutional investors in the United States and Europe. Nord Anglia said it would be taken private by Canada Pension Plan Investment Board and Baring Private Equity Asia on April 25, in a deal that values the company at US$4.3 billion, including debt.

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