{"id":361016,"date":"2020-07-03T11:35:25","date_gmt":"2020-07-03T06:05:25","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=361016"},"modified":"2020-07-03T12:01:10","modified_gmt":"2020-07-03T06:31:10","slug":"hpl-takes-loan-on-lummus-books-to-fund-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/hpl-takes-loan-on-lummus-books-to-fund-deal\/","title":{"rendered":"HPL takes loan on Lummus books to fund deal"},"content":{"rendered":"<p>Master dealmaker Purnendu Chatterjee has come up with a complicated, layered financing structure for the $2.7 billion acquisition of Lummus Technology of the US from McDermott International Inc: it has the elements of a leveraged buyout \u2014 without recourse to its new owners \u2014 topped with a bank guaranteed-debt and a shovelful of internal cash. <\/p>\n<p>There are two basic halves in the financing of the acquisition. The two partners \u2014 Chatterjee\u2019s Haldia Petrochemicals and New York based private equity firm Rh\u00f4ne Capital \u2014 will be together forking out $1.225 billion (Rs 9,187.5 crore) \u2014 to pick up equity in Lummus. HPL will hold a 57 per cent stake, while Rh\u00f4ne Capital will hold 43 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Master dealmaker Purnendu Chatterjee has come up with a complicated, layered financing structure for the $2.7 billion acquisition of Lummus Technology of the US from McDermott International Inc: it has the elements of a leveraged buyout \u2014 without recourse to its new owners \u2014 topped with a bank guaranteed-debt and a shovelful of internal cash. There are two basic halves in the financing of the acquisition. The two partners \u2014 Chatterjee\u2019s Haldia Petrochemicals and New York based private equity firm Rh\u00f4ne Capital \u2014 will be together forking out $1.225 billion (Rs 9,187.5 crore) \u2014 to pick up equity in Lummus. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,215,148],"tags":[],"class_list":["post-361016","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-telegraph","category-the-telegraph"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=361016"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/361016\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=361016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=361016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=361016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}