Banks Kick Off $2.55 Billion Loan Deal for Nuvei Buyout.

Bank of Montreal and a group of underwriters have launched a $2.55 billion loan to support the acquisition of Nuvei Corp, making it the largest buyout deal since April. The loan will help fund the $6.3 billion leveraged buyout of the Canadian payments processor by Advent International, management, Novacap, and CDPQ. This financing comes at a time when the leveraged loan market has been dominated by repricings and refinancings, and it is expected to be the biggest deal of its kind since April. Nuvei, backed by Canadian actor Ryan Reynolds, provides payment processing services to various brands. Founder and CEO Philip Fayer will retain a significant stake in Nuvei after the acquisition. [Extracted from the article]