Goldman readies PIK loan to finance dividend

Goldman Sachs Capital Partners, the private equity arm of the US investment bank, is preparing to finance a dividend from Italian cable manufacturer Prysmian Cables and Systems through a payment-in-kind loan.

The buyout firm, which bought the company in a leveraged acquisition worth €390m ($508m) in July 2005, has appointed Goldman Sachs and Deutsche Bank to arrange the new €700m financing denominated in euros and dollars.

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