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House of HR modifies €150 million add-on term loan OID to 99
By Sara Rosenberg
New York, Dec. 5 – House of HR Group BV revised the original issue discount talk on its fungible €150 million add-on first-lien term loan due November 2029 to a range of 98.5 to 99 from a range of 98 to 98.5 and then finalized the discount at 99, according to a market source.
Pricing on the add-on term loan is Euribor plus 550 basis points with a 0% floor, in line with existing term loan pricing based on the margin ratchet.
JPMorgan and Barclays are the joint physical bookrunners on the deal. Societe Generale is a joint bookrunner. JPMorgan is the administrative agent.
Allocations went out on Tuesday, the source added.
Proceeds will be used to repay revolving credit facility borrowings, to fund the company’s near-term acquisition pipeline and to pay transaction related fees and expenses.
House of HR is a Belgium-based provider of HR solutions in key European staffing markets.
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