date:Oct 17, 2012
UK-based private equity firm Permira has hired banks to provide additional debt for its frozen food company Iglo, which owns the Birds Eye brand.
Credit Suisse, HSBC, Nomura and UBS will be managing the Iglo transaction, under which 250m of new debt will be added to the company's existing loans 1.6bn, in order to restructure the finances. Permira is also planning to pay itself a dividend of 319m.
As part of the dividend agreement, Iglo is also seeking an extension on the maturity of its existi