EG Group launches $2.79 billion term loan B at SOFR plus 525-550 bps

By Sara Rosenberg

New York, June 12 – EG Group launched on Monday its $2.791 billion first-lien term loan B due February 2028 with price talk of SOFR plus 525 basis points to 550 bps with a 0.5% floor and an original issue discount of 96 to 97, according to a market source.

The company also launched its €2.117 billion first-lien term loan B due February 2028 with talk of Euribor plus 525 bps to 550 bps with a 0% floor and a discount of 96 to 97, its £600 million first-lien term loan B due February 2028 with talk of Sonia plus 625 bps to 650 bps with a 0% floor and a discount of 96, and its A$378 million first-lien term loan B due February 2028 with talk of BBSY plus 525 bps to 550 bps with a 0% floor and a discount of 96 to 97, the source said.

Barclays is the sole physical bookrunner, a joint global coordinator and the administrative agent on the deal. Other joint global coordinators are JPMorgan Chase Bank, Deutsche Bank Securities Inc. and Rabobank. BofA Securities Inc., Barclays, Deutsche Bank, Goldman Sachs, HSBC Securities, ING, JPMorgan, Lloyds, Morgan Stanley Senior Funding Inc., Rabobank, SMBC and UBS Investment Bank are joint bookrunners.

Commitments are due on June 21.

Proceeds will be used to amend and extend existing U.S. dollar, euro, sterling and Australian dollar first-lien term loans due February 2025 and an existing U.S. first-lien term loan due March 2026.

EG Group is a Blackburn, U.K.-based convenience retail and fuel station company.

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