Normec changes €665 million term B talk to Euribor plus 400-425 bps

By Sara Rosenberg

New York, March 26 – Normec revised price talk on its €565 million seven-year term loan B and €100 million delayed-draw term loan B to a range of Euribor plus 400 basis points to 425 bps from Euribor plus 425 bps, according to a market source.

The term loan debt (B2/B) is still talked with a 0% floor, an original issue discount of 99.5 and 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 continued to be due at 1 p.m. ET on Tuesday, the source added.

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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