The Canada Pension Plan Investment Board (CPPIB) Credit Investments Inc.—a wholly-owned subsidiary of CPPIB—has completed a debt agreement with Formula One Group to finance US$400 million of a US$1.0 billion private high-yield loan. The maturity date of the loan is 2019.
“This transaction is an excellent opportunity for CPPIB to participate in a long-term loan facility with attractive risk-adjusted returns involving an iconic global sports management brand that is superbly positioned for continued growth,” said André Bourbonnais, senior vice-president, private investments with CPPIB.
CPPIB’s diversified private debt portfolio includes investments across many sectors. Since its inception, the group has invested approximately $9 billion of capital. With investments in the Americas, Europe and Asia, the team is focused on providing debt financing across the entire capital structure including term loans, high-yield bonds, mezzanine lending and other solutions for corporations.