Hyva tests investor appetite for bond-backed LBO

Hydraulic cylinder-maker Hyva is in the market with a $375 million senior bond. If that doesn’t pan out, a syndicated loan is plan B.

Netherlands-headquartered hydraulic cylinder-maker Hyva Global will kick off a roadshow for a Reg-S144a $375 million senior secured bond issue today.

The five-year non-call-three bond will partly finance the 525 million $750 million leveraged buyout of Hyva by Asian private equity firm Unitas Capital and Hong Kong’s NSW Holdings at the end of last year. Private equity firm 3i was the seller. The rest of the buyout will be financed by equity and cash on...

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