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BUSY INFOTECH
Area Sales Manager - Amritsar / Ambala / Shimla
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PUMA
Manager- Supply Planning
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PUMA
Senior Manager - Performance Marketing- Marketplac…
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SURYA FOOD AGRO LTD
Production Manager
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SHYAM STEEL INDUSTRIES
Require Area Sales Manager For Different Locations at Bihar
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PINKODE REALTY LLP
Hiring For Asm/Sales Managers
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FRQ BRO
Area Sales Manager - Oppo
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FLEETX
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TEACHMINT
Area Business Manager
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MTC BUSINESS
Production Manager | Khopoli
Permanent · Khopoli
UGRAYA FOODS
Production Manager || Agartala (Tripura)
Permanent · Agartala
RELIANCE RETAIL
Area Sales Manager - Reliance Digital (Multiple Locations)
Permanent · Thiruvananthapuram
SOSYO HAJOORI BEVERAGES PRIVATE LIMITED
Zonal Sales Manager/Area Sales Manager
Permanent · Pune
ALDER BIOCHEM PRIVATE LIMITED
Area Business Manager (Only For Generic Division)
Permanent · Varanasi
PEOPLE ALLIANCE WORKFORCE PRIVATE LIMITED
Asst. Manager Quality / Quality Line Officer- Garments Industry
Permanent · Bhiwandi
ACTIVEWEAR & TECHNICAL TEXTILE DIVISION (KUDU KNIT PROCESS PVT LTD - UNIT-III, LDH
Merchandising Manager (Activewear)
Permanent · Ludhiana
GOKALDAS EXPORTS
Executive / sr. Executive / Manager - Maintenance / Utility
Permanent · Bhopal
PAYSWIFT TECHNOLOGY PVT LTD
Area Sales Manager
Permanent · Kolkata
DODLA DAIRY
Area Sales Manager -Hyderabad , Nalgonda, Mahbubnagar
Permanent · Nalgonda
GOKALDAS EXPORTS
Manager - Operations - (Garments Background)
Permanent · Bhopal
By
Reuters
Published
Nov 5, 2014
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Fat Face's dividend loan faces further changes

By
Reuters
Published
Nov 5, 2014

LONDON, United Kingdom - A 210 million pounds loan financing a dividend recapitalisation and refinancing for British outdoor clothing chain Fat Face could be adjusted to reduce leverage, banking sources said on Tuesday.

The deal, which launched in September with a 180 million pound term loan B, has already been adjusted twice in October, bringing losses to arranging banks Citigroup and Goldman Sachs.


Further changes could see the term loan reduced to 140 million pounds and a new 40 million pound second lien tranche included, which would reduce senior leverage and make the deal more attractive to investors, sources said.

Bridgepoint declined to comment.

The deal is still in syndication with pricing of 550bp with a discount of 94 percent of face value, they added.

A second lien loan is likely to have a margin of 550bp with a bigger discount of around 82 if it is added to the deal, one source said.

“At these levels, Fat Face becomes far more interesting,” a banker said.

The term loan was originally expected to pay 500-525bp over Libor with a discount of 99.5.

European private equity firm Bridgepoint bought Fat Face in 2007 for 360 million pounds, backed with 210 million pounds of leveraged loans that were amended and extended in 2012.

Bridgepoint withdrew a planned 110 million pound listing in London in May this year due to poor equity market conditions, according to Thomson Reuters LPC.

Around 120 million pounds of the term loan will be used to refinance existing debt, including a more expensive junior tranche and around 65 million pounds will fund a dividend payment to shareholders.
 

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