WestLB leads Alchemy debt-package for Anglian

Investment bank WestLB has organised the debt package for Alchemy Partner’s acquisition of Anglia Group, announced earlier this week.

WestLB is leading the £143m (E227m) debt package being used by Alchemy Partners for the management buyout of Anglian Group plc, the UK building manufacturing company.

The debt package combines £85m of senior term loan, an £8m bridging loan and a £30m mezzanine facility. There is also a £20m revolving credit facility for working capital purposes.

The first tranche of the senior term loan, worth £73m, is due to be repaid on March 31, 2008 and the second, worth £17m, is due in two payments on September 30, 2008 and March 31, 2009.

Alchemy Partners announced earlier this week that it had made the 250p per share offer for Anglian. The deal values Anglian at £161m (E253m).

Neil Rattenbury, a senior director in leveraged finance and Mathew Previte, a director in the same group, are running the deal from West LB. Investment banking boutique Altium Capital advised Alchemy on the deal and the private equity firm received legal advice from Macfarlanes.