The private equity consortium led by buyout giant CVC Capital Partners, alongside Nordic Capital and Platinum Ivy, poised to acquire Hargreaves Lansdown has expanded its roster of lenders backing the £5.4bn deal, according to a report by the Business Desk.
The group has announced it has secured financing commitments from four additional lenders – Korea Investment, KDB Asia, Sona Asset Management, and Canadian pension fund The Public Sector Pension Board.
This announcement comes shortly after the consortium added a range of prominent global lenders to its financing group last week, including Oaktree Capital Management, Pinestreet Asset Management, Albacore Capital, LGT Capital Partners, StepStone Group, the Novo Nordisk Foundation, HSBC, and Japanese banks Mizuho and MUFG.
The Hargreaves Lansdown board gave its approval to the takeover deal on 9 August, after previously rejecting three previous offers from the consortium. The initial group of lenders supporting the bid, even before board approval, included HPS Investment Partners, KKR Credit Advisors, Apollo Global Management, and Blackstone Credit.
The board has scheduled a shareholder vote on the deal for 14 October, where investors will have the final say on whether the acquisition goes through.
