Endemol prices $25 million and €25 million first-lien term loan add-on

By Paul A. Harris

Portland, Ore., April 10 – Endemol priced an add-on to its first-lien term loan due Aug. 13, 2021 (existing ratings B1/B) on Friday, according to a market source.

A $25 million tranche priced with a 575 basis points Libor spread atop a 1% Libor floor at 99.5.

A €25 million tranche priced at Euribor plus 600 bps atop a 1% Libor floor at 99.5.

As with the existing first-lien term loan due Aug. 13, 2021, the add-on paper comes with a 101 soft call that expires in August 2015.

Deutsche Bank was the sole bookrunner.

The deal is expected to close during the week of April 20.

Proceeds will be used for general corporate purposes, including strategic investments and acquisitions.

Endemol is an Amsterdam-based creator, producer and distributor of multiplatform entertainment.

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