Public debt rather than equity markets provide cash for a dividend recapitalisation of Intel-backed AVG Technologies.
Czech Republic-based security software maker AVG Technologies has shelved plans for its flotation in favour of raising $235m in a loan partly in order to pay its shareholders, which include Intel Capital, a dividend.
Investment banks JP Morgan and Morgan Stanley led the syndicate providing the secured, five-year term loan to AVG in its first capital markets transaction.
The use of public debt rather than equity markets to finance growing companies is relatively rare unless they are seen as…
