N&W Global Vending Primary market Snapshot
​LSF9 Canto Investments S.p.A., the holding company of N&W Global Vending has launched a €300m 7NC3 senior secured notes offering. The net proceeds, along with €100m of 2nd lien privately placed notes will be used to repay the €400m bridge facility entered in January 2016. In March 2016, private equity firm, Lone Star closed the acquisition of the company from a pool of other private equity funds formed by Investcorp and Equistone. It was based on an enterprise value of €653m implying and EV/EBITDA multiple of 8.7x FY15 EBITDA. The transaction significantly releveraged the company from 3.2x as of FY15 to a high 5.8x. LSF9..
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