Thomson Learning
The deal was to back the $7.75 billion buyout of academic and humanities information provider Thomson Learning by Apax Partners and pension group Omers. The original structure involved a leverage multiple of 9.8 times through to the PIK loan and had to be restructured in June. It was scaled down from $2.14 billion to $1.6 billion, with the underwriters eventually having to take down the $540 million bridge loan instead of issuing a $540 million senior unsecured holdco PIK FRN.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
