Alter Domus sets call for €600M dual-currency term loan financing

Alter Domus Luxembourg Sarl is out with a €600 million-equivalent, two-tranche euro and dollar term loan ahead of an investor call at 1 p.m. U.K. time on Feb. 8. Goldman Sachs and RBC CM are joint left leads and mandated lead arrangers, alongside joint bookrunners HSBC, Macquarie, Mizuho, NatWest Markets and Bank of Ireland.

The deal is expected to be split between seven-year tranches of €400 million and $245 million. The euro tranche comes as a bullet, and there is a 1% amortization on the dollars, with six months of soft call protection at 101 on both.

Paradocs Holding Sarl is the borrowing entity, and replies are due by noon U.K. time on Feb. 17.

Proceeds from the deal support the Permira-backed firm’s acquisition of Strata Fund Solutions, a fund administrator focused on U.S. private equity and venture capital funds, and refinance debt. Permira bought out Alter Domus, a fund administration, debt capital market and corporate services firm, in 2016 in a deal backed by a bank financing.

Alter Domus announced the acquisition of Strata in a statement Jan. 12. The deal brings assets under management of the combined firm to more than $1 trillion, making it one of the largest private asset services for alternative asset investors globally. On closing of the acquisition, the firm will derive more than 40% of its revenues from the U.S.