acquisition of a Bank of America business has been funded by
securitising the targets receivables, and without a
a rare example of structured finance being used as the only
debt tranche in an M&A deal, and comes at a time when
bridge financing is difficult to come by.
private equity firm GTCRs
purchase of Premium Credit from MBNA Europe Bank
October 31 could signal the beginning of new acquisition
deal appears to be the first time a rated securitisation has
wholly-funded a significant acquisition, according to Sidley
Austins John Woodhall, who acted for the bank consortium
that funded the deal.
The notes issued under the £900 million...