Banijay Entertainment sets talk for €503 million, $500 million loans

By Paul A. Harris

Portland, Ore., Jan. 22 – France-based Banijay Group plans to run an international roadshow for two tranches of five-year term loan debt, according to a market source.

The deal sees Banijay Entertainment SAS undertaking the syndication of €503 million of a senior secured term loan B (B1/B/B) talked with a 425 basis points to 450 bps spread to Euribor at 99.5.

Banijay Group US Holding Inc. is in the market with a $500 million senior unsecured term loan B (Caa1/CCC+/CCC+) talked at Libor plus 425 bps to 450 bps at 99.

The European roadshow started on Wednesday in London. The U.S. roadshow starts on Monday. Deadlines for both loans are set for Feb. 6.

Both tranches come with six months of soft call protection at 101.

The dollar-denominated tranche amortizes at a 1% annual rate.

Deutsche Bank, Natixis and SG are the global coordinators and joint bookrunners. BNP Paribas and BofA Securities are the passive bookrunners.

The Paris-based independent production and distribution business plans to use the proceeds to redeem the Banijay 2022 notes and repay its senior secured credit facilities, as well as to fund the acquisition of Endemol Shine and finance the Bear Grylls acquisition, and repay debt related to that acquisition.

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