VNU sets London and N.Y. retail launches for multi-billion facility

By Sara Rosenberg

New York, July 10 - VNU NV has scheduled general syndication bank meetings for its multi-billion credit facility, with a London launch set for Tuesday and a New York launch set for July 18, according to a market source.

A senior managing agent bank meeting for the deal was already held in late-May.

Citigroup, Deutsche Bank and JPMorgan are the lead banks on the deal, with Citi the left lead.

The facility consists of a $687.5 million six-year multi-currency revolver talked at Libor plus 225 basis points and a €4.15 billion seven-year term loan B talked at Libor plus 250 bps, the source said.

Proceeds from the credit facility are being used to help back the acquisition of VNU by Valcon Acquisition BV, a company controlled by a private equity group consisting of affiliated funds of AlpInvest Partners NV, The Blackstone Group LP, The Carlyle Group, Hellman & Friedman LLC, Kohlberg Kravis Roberts & Co. LP and Thomas H. Lee Partners LP.

VNU is a Netherlands-based information and media company.

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