Permira is again looking into refinancing the debt of Birds Eye Iglo, weeks after dropping a dividend recapitalisation.
Reuters broke the news, reporting that improved market conditions have led the firm to explore its options. In July the firm had been in talks with Credit Suisse and Deutsche Bank to line up a dividend recap for Birds Eye Iglo after bids for the company from Blackstone had fallen short of the €2.8bn it hoped to get for the company.
Permira intended to raise €1.9bn in a debt restructuring, of which €600m would be paid back to the firm as a dividend. In the end, the firm decided to shelve the dividend recap. In a statement, Permira said Birds Eye’s capital structure was robust enough for it to pursue further growth.
Click here to read our analysis of Permira's dividend recap plans.