Premium

Cobham to load up with debt in wake of £4bn deal

Planes in flight
Advent is funding the takeover of Cobham with £1.2bn of its own money and using short-term loans

D三级成人视频efence company Cobham is to be loaded up with debt after a controversial £4bn takeover by US private equity firm Advent.

The 85-year-old British pioneer of air-to-air refuelling is expected to issue more than £1bn of bonds following the deal, which was waved through late on Friday night by Andrea Leadsom, the Business Secretary, in the face of a furious backlash from its founding family.

Advent is funding the takeover with £1.2bn of its own money and using short-term loans arranged with banks including Credit Suisse, Citigroup and Goldman Sachs for the remainder.

三级成人视频It is thought that these banks – which are receiving fees totalling more than £120m for funding the deal – are also being lined up...

To continue reading this article

Start your free trial of Premium

  • Access all Premium articles 
  • Subscriber-only events 
  • Cancel any time

Free for 30 days

then only £2 per week

Access one Premium article per week

We’re glad you’re enjoying
The Telegraph
Register or subscribe to continue reading
Already a subscriber?
Register
Free
  • One free Premium article per week
  • Newsletters and daily briefings
Subscribe
30 days free, then £2 per week
  • Unlimited access to Premium articles
  • Subscriber-only newsletters
  • Exclusive subscriber events and rewards
  • The daily newspaper on your smartphone or tablet

Print subscriber?