Normec talks €665 million of term loans at Euribor plus 425 bps

By Sara Rosenberg

New York, March 15 – Normec is talking its €565 million seven-year term loan B and a €100 million delayed-draw term loan B at Euribor plus 425 basis points with a 0% floor and an original issue discount of 99.5 ahead of its lender call scheduled for 7 a.m. ET on Monday, according to a market source.

Included in the term loan (B) is 101 soft call protection for six months.

The delayed-draw term loan will be fungible with the term loan B once it is drawn.

The funded and delayed-draw term loans are being sold as a pro rata strip.

HSBC and JPMorgan Chase Bank are the joint physical bookrunners on the deal. Goldman Sachs, Jefferies LLC, RBC Capital Markets, SMBC and Unicredit are joint bookrunners.

Commitments are due at 1 p.m. ET on March 26.

Proceeds will be used to refinance existing debt and pay transaction related expenses.

Astorg is the sponsor.

Normec is a Netherlands-based testing, inspection, certification and compliance provider focused on the foodcare, life safety, sustainability and health care end markets.

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