A Goldman Sachs Group Inc..-led group has privately sold a loan backing the buyout of pharmaceutical firm Norgine BV, chipping away at the nearly $30 billion of European M&A debt.
Alongside Jefferies Financial Group and KKR Capital Markets, Goldman Sachs placed around 650 million euros ($666 million) of senior loans. The debt was priced at 96.5 cents on the euro, with a spread of 625 basis points above the Euribor benchmark, according to people familiar with the matter who aren’t authorized to speak publicly. The banks have fully underwritten the debt.
Despite it bypassing the traditional syndication ...
