French business information services firm Infopro Digital is expected to launch a financing of around €360m this week backing its buyout by TowerBrook Capital Partners, banking sources said.
However, the timeline for the deal, which is led by BNP Paribas, is not finalised and could be pushed back, one of the sources said.
The supply of primary issuance in the leveraged finance market has dried up since a flurry in January, while loan pricing has increased amid a sell-off in the secondary market.
TowerBrook entered exclusive negotiations to buy a majority holding in the company from Apax Partners, Altamir and Infopro Digital’s management team, the parties announced on February 16.
InfoPro Digital has 2,500 employees and generated €300m in revenue, according to the statement.
The offer is subject to consultation with the relevant employee representative bodies before entering into final negotiations.
TowerBrook declined to comment on the financing.
