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Foncia Buyout Backed by up to $719M in Loans

Credit Agricole, Goldman Sachs and Natixis are arranging a leverage loan worth up to 500 million euros ($719.6 million) to back Eurazeo and Bridgepoint‘s buyout of BPCE bank’s real estate arm Foncia, Reuters reported Wednesday. The acquisition will have a total size ranging from 900 million euros to 1 billion euros ($1.29 billion to $1.43 billion), Reuters wrote.

(Reuters) – Credit Agricole, Goldman Sachs and Natixis are arranging a leverage loan worth up to 500 million euros ($719.6 million) to back Eurazeo (EURA.PA) and Bridgepoint’s buyout of BPCE bank’s real estate arm Foncia, bankers told Thomson Reuters LPC on Wednesday.

The acquisition will have a total size of 900 million-1 billion euros, which will include between 400-500 million euros of total debt in an all senior structure, three of the sources said.

The deal will have a leverage ratio of 4.75 times, two bankers said.

Foncia said on Wednesday a decision on the sale of the group would be given by parent BCPE on Wednesday.

(Reporting by Claire Ruckin; editing by Elaine Hardcastle)