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Group of Butchers allocates €110 million add-on term loan B
By Sara Rosenberg
New York, April 10 – Group of Butchers (Artisan Newco BV) allocated on Wednesday its fungible €110 million add-on first-lien term loan B due February 2029 (B2/B), according to a market source.
Pricing on the term loan is Euribor plus 425 basis points, based on the current margin ratchet, with a 0% floor, and the add-on term loan was issued at par.
During syndication, the issue price on the add-on term loan was updated from talk in the 99.75 area (plus or minus 0.25 point).
JPMorgan Chase Bank is the bookrunner and administrative agent on the deal.
Proceeds will be used for general corporate purposes, including to fund a pipeline of near-term acquisitions.
Pro forma for the transaction, the term loan B will total €494 million.
Group of Butchers is a supplier and category captain of artisanal meat products across the Netherlands, Belgium, and Germany.
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