The deal consists of up to €1.1bn of leveraged loans and up to €750m of high-yield bonds according to Reuters.
Iglo, which owns the Birds Eye frozen food brand in the UK and Findus brand in Italy, was bought by for €1.89bn in 2006.
The firm added the remainder of Unilever’s European frozen food operations by acquiring Findus Italy four years later.
Permira revived plans to pay itself a dividend in 2012 by refinancing the company, having scrapped a previous dividend scheme in July of that year.
It initially sought a €1.9bn recapitalisation to refinance Iglo’s €1.4bn debt pile and take a dividend of between €500m and €600m, but it was forced to make do with a payout of nearer €250m through a deal run by Credit Suisse, HSBC, Nomura and UBS.
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