ATU buyout seen leading to high-yield bond-sources

Newswire

LONDON, Aug 23 (Reuters) - The secondary buyout of German auto repair chain ATU may lead to the issue of a high-yield bond, banking sources familiar with the deal said on Monday. The financing for the buyout of ATU by U.S. equity house Kohlberg Kravis Roberts includes a 220 million euro mezzanine tranche which the sponsor is considering refinancing with such a bond, the sources said. A 955 million euro senior debt package brings the total debt to 1.175 billion euros and syndication of ...

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