Death knell for vanilla debt

Article Abstract:

High- yield bonds and securitisation have become two popular ways of financing the UK management buy-out market whilst the use of vanilla debt, for large deals, is receding. High-yield bonds can be used in situations where a company's cash flow needs to be flexible. Securitisation offers a method of gaining funds, to pay for growth, particularly in company without a record of performance. Securitisation can offer a greater amount of senior debt than other methods of financing. Deals must be organised to suit a company's needs and to allow it to meet loan repayments.

Debt & Capital Management, Management, Finance, Management buyouts, Financial management, Debt financing (Corporations), Debt financing

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Co-ordinating a Premier transaction

Article Abstract:

The sale of electronics components distribution business Premier Farnell's global distribution network was overseen by corporate consultants at Eversheds Leeds. It was a complex transaction because it resulted in the sale of fifteen international businesses. The management team worked closely with Premier Farnell company secretary Ken Mullen to secure the deal. A number of difficulties arose, including French legal restrictions, before the deal was complete.

Electronics, Analysis, Acquisitions and mergers, Premier Farnell PLC

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Farnell buys a premier place in catalogues

Article Abstract:

Farnell Electronics made a 1.85 billion pounds sterling acquisition of Premier Industrial Corporation, an electronic components catalogue distributor, following overwhelming sharholder support. Chief executive Howard Poulson and finance director Andrew Fisher worked with financial advisers NatWest Markets (NWM) on the structured deal involving a 350 million pounds sterling nine for 19 rights issue, fullyrefundable.

Electronic Components, PRE, Premier Industrial Corp., Farnell Electronics PLC

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