Axa Private Equity (Axa PE) will sell €240 million of senior leveraged loans to fund the buyout of Photonis Technologies, Bloomberg reports. ING Groep, Societe Generale and IKB Deutsche Industriebank are arranging the loan to fund the buyout of the photo sensor technology provider.
Axa’s buyout division is paying for more than half of the purchase price with equity. The firm is also funding the buyout with €50 million of junior-ranking mezzanine debt.
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