Another Carlyle Group affiliate took on debt to pay its
Italian fashion brand Twin Set-Simona Barbieri SpA had to increase the period during which it won’t redeem its debt to 1.5 years from one year before it sold 150 million euros of floating-rate notes on July 15. The company, owned by Washington-based private equity firm Carlyle Group LP, planned to use some of the proceeds to pay a shareholder dividend.This liquidity recapitalization comes two years after Carlyle acquired a majority stake in Twin Set-Simona.
How much of the 150 million euro loan will end up in Carlyle's pocketbook? However much Carlyle wants.
Update 1-30-20: Carlyle hired JP Morgan to help sell Twin Set.
