Blackstone is leading a loan package to back Permira’s buyout of Gossler, Gobert & Wolters, a German insurance firm, according to a report by Bloomberg. The package is valued at €950m ($1bn).
The report cites people familiar with the matter as saying that the debt for GGW’s sale is split up into a €675 million unitranche loan — a blend of senior and junior debt — with a €275 million delayed drawn term loan on top of that for future acquisitions.
While Permira has agreed to purchase the company from Hg, it is being supported by the private credit market to go through with the deal.
Other lenders supporting the transaction include Goldman Sachs Asset Management and Hayfin Capital Management.
