Packaging company Goodpack, which is being taken over by US private equity firm KKR for $1.4 billion, has held meetings with investors in Singapore this week over a $720 million term loan.
Having tested demand in Asia for high-yielding loans that offer no financial covenants, the Singapore group is now due to meet with US investors next week as it seeks debt finance to help fund KKR's leveraged buyout.
The loan package comprises two tranches a $520 million unsecured seven-year Term loan B and a $200 million second lien eight-year piece neither of which have financial covenants.
A “Term loan B” is...
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