Monbake Grupo tightens €275 million term loan B OID to 98.5

By Sara Rosenberg

New York, April 27 – Monbake Grupo Empresarial revised the original issue discount on its €275 million term loan B due December 2027 to 98.5 from 98, according to a market source.

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

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 were scheduled to be due at noon ET on Thursday, the source added.

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.

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