Refresco changes €1.53 billion loan talk to Euribor plus 375-400 bps

By Sara Rosenberg

New York, Jan. 23 – Refresco Group BV (Pegasus Bidco BV) revised price talk on its €1.53 billion first-lien term loan B due July 2029 to a range of Euribor plus 375 basis points to 400 bps from Euribor plus 400 bps, according to a market source.

The 0% floor, par issue price and 101 soft call protection for six months on the euro term loan were unchanged.

The company’s $1.594 billion first-lien term loan B due 2029 is still being talked at SOFR plus 375 bps with a 0.5% floor, a par issue price and 101 soft call protection for six months.

JPMorgan Chase Bank is the left lead on the U.S. loan and KKR Capital Markets is a physical bookrunner, and Goldman Sachs, JPMorgan, KKR and Rabobank are the physical bookrunners on euro loan. ABN Amro, Commerzbank, ING and Morgan Stanley are passive bookrunners. JPMorgan is the administrative agent.

As before, commitments for the U.S. loan are due at 5 p.m. ET on Thursday and commitments for the euro loan are due at noon ET on Thursday, the source added.

Proceeds will be used to reprice existing U.S. and euro term loans.

Refresco is a Rotterdam, the Netherlands-based beverage producer.

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