According to foreign media reports, GO Scale Capital's $1.93 billion (equivalent to RMB 12.33 billion) loan allocation plan has emerged. The financing will support GO Scale Capital to acquire an 80% stake in Philips' lighting equipment business for US$2.8 billion (equivalent to approximately RMB 17.88 billion). Bank of China is the only lead bank, bookkeeping and underwriting bank, and will hold $1.61 billion in loans. China Exim Bank has a loan of US$120 million. Bank of Communications and the Dutch Cooperative Bank provided 75 million loans respectively. Bank of America Merrill Lynch has a loan of $50 million. BOC acted as an agent. The case was signed on July 29. The loan includes a $1.33 billion seven-year term loan in Part A, a $250 million seven-year term loan in Part B, and a $350 million five-year revolving loan. Only part of the term loan is syndicated. The bank interest rate is 330 basis points more than the London Interbank Offered Rate (Libor). The maximum return on a term loan is 90 basis points. Philips said the acquisition is valued at $3.3 billion for its lighting device business, including debt. Mergers and acquisitions include the automotive lighting division and the Lumileds LED manufacturing division. London Zaoui Co is a consultant for Go Mitch Capital's M&A deal, and Morgan Stanley is a consultant to Philips. Go Scale Capital's previous investments include Boston Electric, the US electric vehicle battery manufacturer, and New Ocean Electromechanical Group, a Chinese electric vehicle company.
Pizza Mesh Screen
Pizza screens are among the professional pizza-maker's tools for achieving a perfectly cooked pie. Available in a range of sizes, pizza screens are perforated metal discs that resemble screens. The holes in the Pizza Screen allow moisture to escape so that the result is an evenly cooked, crispy crust. Pizza screen made from commercial grade durable aluminum steel. It is perfect for lifting pizzas, cakes, bread, cupcakes or muffin pans out of the oven. The perforated surface increases air flow for crispy crusts. Which is perfect for bread, pizza, and more. Hand wash with soap and water to maintain the aluminum's finish and prevent unsightly residue buildup. Pizza screen is not only useful for fresh and frozen pizza, it also makes toasting breads or pulling cakes in and out of ovens a breeze.
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