Apleona lifts term loan B to €210 million, revises OID to 98.5

By Sara Rosenberg

New York, March 31 – Apleona Holding GmbH upsized its non-fungible add-on term loan B due April 2028 (B2/B) to €210 million from €200 million, according to a market source.

Also, the original issue discount talk on the term loan was changed to a range of 97.5 to 98.5 from a range of 96.5 to 97.5 and then firmed at 98.5 following the 8 a.m. ET commitment deadline on Friday, the source said.

Pricing on the term loan remained at Euribor plus 475 basis points with a 0% floor.

The term loan still has 101 soft call protection for six months.

Citigroup Global Markets Inc. is the physical bookrunner on the deal. Deutsche Bank and UniCredit are passive bookrunners. RBI is a mandated lead arranger. Deutsche Bank is the administrative agent.

Proceeds will be used to fund the acquisition of Gegenbauer Group, a Berlin-based facility management provider in Germany, to repay existing second-lien debt and, due to the upsizing, for general corporate purposes.

As part of the transaction, the former shareholders of the Gegenbauer Group will become shareholders in Apleona, while PAI Partners will remain Apleona’s majority shareholder.

Closing is expected by the summer, subject to approval from antitrust authorities.

Apleona is a Neu-Isenburg, Germany-based integrated facilities management services provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.