Minimax Viking to launch U.S. and euro term loan repricing on Friday

By Sara Rosenberg

New York, May 28 – Minimax Viking is set to hold a lender call at 9 a.m. ET on Friday to launch a repricing of its U.S. dollar and euro term loans due 2020 that are talked at Libor/Euribor plus 275 basis points to 300 bps with a 1% floor and a par issue price, according to a market source.

The repriced loans will have 101 soft call protection for six months and interest coverage and leverage covenants, the source said.

The U.S. loan is sized at $422 million, and the euro loan is sized at €315 million, and aggregate debt will be repaid by €60 million-equivalent with this transaction.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Commitments are due at 5 p.m. ET on June 8, the source added.

Minimax Viking is a fire protection company with headquarters in Bad Oldesloe in Schleswig-Holstein, Germany.

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