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June 23, 2014

UK: Iglo Group owner “mulling IPO”

Permira, the private-equity owner of frozen food maker Iglo Group, is reportedly considering listing the business.

Permira, the private-equity owner of frozen food maker Iglo Group, is reportedly considering listing the business.

According to Reuters, citing “banking sources”, Iglo has launched an EUR1.6bn (US$2.18bn) covenant-lite loan and bond refinancing to cut borrowing costs and give flexibility in advance of a potential IPO.

Deutsche Bank, Credit Suisse and Nomura have been mandated to lead the deal, which will refinance existing loans, cut pricing and allow a potential listing, the report suggested.

Permira and Iglo did not respond to requests for comment at time of going to press.

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