Ivirma sets talk on $500 million and €550 million term loans

By Sara Rosenberg

New York, March 5 – Ivirma launched on Tuesday its $500 million seven-year term loan B and €550 million seven-year term loan B with price talk of SOFR/Euribor plus 450 basis points with a 0% floor and an original issue discount of 99, according to a market source.

The term loans (B/B+) have 101 soft call protection for six months, and the U.S. term loan has amortization of 1% per annum.

KKR Capital Markets is the sole physical bookrunner on the U.S. term loan, with Barclays and BofA Securities Inc. bookrunners. Barclays, BofA Securities and KKR are the physical bookrunners on the euro term loan. CVC Capital Markets, Deutsche Bank Securities Inc., Intesa, Mizuho, Morgan Stanley Senior Funding Inc., MUFG, Santander, SMBC, Societe Generale and UniCredit are passive bookrunners. Santander is the agent.

Commitments are due at 8 a.m. ET on March 15.

Proceeds will be used to refinance existing debt and pay the relevant transaction fees and expenses.

IVI America LLC is the borrower for the U.S. term loan, and Inception Finco is the borrower for the euro term loan.

KKR is sponsor.

Ivirma, which has headquarters in Valencia, Spain, and Basking Ridge, N.J., is a fertility platform.

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