LBO France-backed Exxelia-Eurofarad, a provider of customised passive components including capacitors, filters and sensors, has completed a EUR175m refinancing.
Crédit Mutuel-CIC and Société Générale CIB acted as mandated lead arrangers and bookrunners of a EUR130m senior financing.
ICG has underwritten a EUR45m mezzanine tranche.
Thanks to this refinancing package a EUR82m dividend was distributed to shareholders.
The new financing structure, which includes a redefinition of covenants, is portable.
In 2013, Exxelia-Eurofarad recorded turnover of EUR115m compared to EUR73m in 2010.
LBO France acquired the company in December 2010.
