Eleda sets price talk on SEK 10.24 billion equivalent euro loans

By Sara Rosenberg

New York, Feb. 7 – Eleda (Platea (BC) Bidco AB) launched on Wednesday its SEK 8.5 billion equivalent euro seven-year covenant-lite term loan B and SEK 1.735 billion equivalent euro delayed-draw covenant-lite term loan B with price talk of Euribor plus 425 basis points to 450 bps with a 0% floor and an original issue discount of 99, according to a market source.

The term loans, which are being sold as a strip, have 101 soft call protection for six months.

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.

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.

© 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.