Eleda prices €918 million loan B at Euribor plus 450 bps

Chicago, Feb. 22 – Eleda (Platea (BC) Bidco AB) priced and allocated its new €918 million term loan B with a seven-year tenor (B2) on Thursday, according to a market source.

The total amount includes a €765 million term loan B and a €153 million delayed-draw tranche.

The loan priced at Euribor plus 450 basis points, at the high end of talk of Euribor plus 425 bps to 450 bps. The 0% floor and discount at 99 are unaltered from initial talk.

The term loans, 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.

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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