LEHMAN BROTHERS has finally launched the senior secured debt portion of the financing backing Morgan Grenfell Private Equity's £390m purchase of Coral, the bookmakers chain. The senior debt totals £190m and is split between a £125m six and three-quarter year amortising term loan that carries a margin of 225bp over Libor, a £50m seven and three quarter year bullet 'B' loan that carries a margin of 275bp and a £15m six and three quarter year revolving credit that carries a margin of 225bp.
January 22, 1999