Bain Capital has secured a $136m financing package to support its minority investment in Dhoot Transmission Group, a leading Indian automotive components manufacturer, according to a report by Bloomberg citing sources familiar with the matter.
The five-year debt package comprises a $111m term loan alongside a $25m revolving credit facility, the sources said, speaking on condition of anonymity.
A consortium of five banks – including DBS Group Holdings and HSBC Holdings – has been mandated as lead arrangers and bookrunners on the transaction. The loan is being syndicated to a select group of lenders, the sources added.
Bain Capital initially invested in Dhoot Transmission Group last year. Terms of the transaction, including the size of Bain’s stake and overall deal value, have not been disclosed publicly.
Founded in 1999 by Rahul Dhoot, Dhoot Transmission Group manufactures a range of automotive components, including electronic sensors and controllers, power cords, and automotive cables, according to its website.
