Eleda to launch SEK 10.24 billion equivalent euro loans on Wednesday

By Sara Rosenberg

New York, Feb. 6 – Eleda (Platea (BC) Bidco AB) is set to hold a lender call at 4 a.m. ET on Wednesday to launch a SEK 8.5 billion equivalent euro seven-year covenant-lite term loan B and a SEK 1.735 billion equivalent euro delayed-draw covenant-lite term loan B, according to a market source.

Small group meetings will take place from Wednesday through Friday.

Barclays, Citigroup Global Markets Inc., Nordea and UBS are the joint physical bookrunners on the deal. KKR Capital Markets is a bookrunner. Wilmington is the administrative agent.

The term loans, which will be sold as a strip, have a 0% floor and 101 soft call protection for six months, the source said.

Commitments are due at 9 a.m. ET on Feb. 21.

Proceeds will be used with new and reinvested equity to finance the purchase price consideration in connection with Bain Capital Private Equity’s acquisition of a controlling stake in the company from Altor, which will retain a minority stake, and to refinance existing debt.

Eleda is a Nordic infrastructure services provider with headquarters in Stockholm.

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