Monbake launches €275 million term loan B at Euribor plus 475 bps

By Sara Rosenberg

New York, April 20 – Monbake Grupo Empresarial launched on Thursday its €275 million term loan B due December 2027 with price talk of Euribor plus 475 basis points with a 0% floor and an original issue discount of 98, according to a market source.

The term loan has covenants and private ratings.

BNP Paribas Securities Corp. is the sole active bookrunner on the deal. Credit Agricole and Natixis are passive bookrunners. BNP Paribas is the agent.

Commitments are due at 9 a.m. ET on April 27.

Proceeds will be used to amend and extend an existing €275 million term loan B due February 2025 that is priced at Euribor plus 375 bps.

Monbake is an operator in the frozen bread and bakery market in Spain.

© 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.