EQT’s SSP seeks £650m loan ahead of IPO


food6Nordic private equity firm EQT is reportedly looking to secure loans of £650m for its portfolio company SSP Group, which is preparing for an IPO.

The UK-based catering business is currently in talks with banks about a five-year funding package which would replace part of its existing £1.1bn debt, said Bloomberg, citing three people with knowledge of the talks.

One of the sources said that the size of the loan has not been finalised.

SSP could be valued at around £2bn pounds, said two of the sources.

EQT, which acquired SSP from Compass Group in April 2006, is expected to exit part of its stake via the IPO.

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