Groupe Services France launches €446 million term loan B

By Sara Rosenberg

New York, Feb. 12 – Groupe Services France (Trevise Holdings 1 SAS) launched on Monday a €446 million covenant-lite term loan B due July 2029 (B1/B) that is talked at Euribor plus 425 basis points to 450 bps with a 0% floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months and a six months margin ratchet holiday, the source said.

BNP Paribas Securities Corp., Societe Generale and Credit Agricole are the joint bookrunners on the deal. Credit Agricole is the agent.

Proceeds will be used to reprice an existing term loan B down from Euribor plus 500 bps.

Groupe Services France is a prover of hygiene, cleaning and associated services, for office environments, medical establishments, industrial production premises and public-facing sites.

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