Fassi Gru raises €450M in debut bond to refinance and fund buyouts

What's the deal? Fassi GruDealroom has a profile for this one. Try Dealroom →, the Italy-based loader-crane manufacturer owned by InvestindustrialDealroom has a profile for this one. Try Dealroom →, has completed its debut issuance of €450 million in senior secured floating rate notes due 2033. Its holding company, Lifting Control HoldingDealroom has a profile for this one. Try Dealroom →, also entered an €85 million revolving credit facility.

Where's the money going? Proceeds will refinance existing debt, fund a shareholder distribution, and finance bolt-on acquisitions.

Who's involved? Law firm Paul, WeissDealroom has a profile for this one. Try Dealroom → advised Lifting Control Holding on the offering. The deal marks the company's first bond issuance.

The signal: The offering gives a private equity-backed industrial firm long-dated financing to 2033 while returning capital to its owner — a combination of refinancing, dividend, and acquisition firepower in a single debt raise.

Read more: paulweiss.com

Image credit: John K Thorne