BNP Paribas is Launching $151 Million Financing Backing Cosmetic Essence Buyout.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Sole lead arranger Lead arranger The senior tier of arranger BNP Paribas BNP Paribas (Euronext: BNP, TYO: 8665 ) is one of the main banks in Europe and France. It was created on 23 May 2000 through the merger of Banque Nationale de Paris (BNP) and Paribas. is launching, via a bank meeting on Tuesday November 9th, a $151 million loan, backing the purchase of BMP/CEI Holdings, Inc. the parent of Cosmetic Essence, Inc., a leading provider of supply chain management services to the personal care industry, by Onex Partners, LP. The facilities will be comprised of a $25 million revolver, a $90 million first lien term loan and a $36 million second lien A Second lien financing is a form of financing secured on a second ranking basis by (more or less) the same security, which secures the first ranking financing. The first lien lenders and the second lien lenders agree that, in the event of a security enforcement or bankruptcy, the tranche. First lien facilities will have a tenor of 6 years, while the second lien tranche will mature after 7 years. Pricing on the first lien is L+325, while the second lien tranche is expected to emerge at L+700. Holmdel, NJ-based Cosmetic Essence, majority-owned by Brockway Moran & Partners Fund, LP, is being bought in a transaction valued at approximately $245 million. The Company is expected to generate revenue of approximately $209 million in 2004. About BNP Paribas BNP Paribas (www.bnpparibas.com) is a European leader in banking and financial services, with a significant and growing presence in the United Sates and leading positions in Asia. The most profitable bank in the Euro zone, it has a presence in 85 countries with 89,400 employees. The group enjoys key positions in Corporate and Investment Banking, Private Banking & Asset Management, Insurance, Securities Services and Retail Banking. Headquartered in New York, BNP Paribas in North America offers a broad range of corporate, investment banking and securities brokerage activities. With locations in all the major corporate and financial centers across the United States and Canada, BNP Paribas in North America serves a world-class client base of multinational corporate and mid-cap companies, major issuers and institutional buyers. As a registered NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). broker-dealer and member of SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. , BNP Paribas Securities Corp. trades and markets a vast array of global and domestic fixed income and equity products. In the U.S., BNP Paribas offers retail banking and financial services through BancWest Corporation, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . |
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