Aggreko launches €300 million term loan at Euribor plus 475 bps

By Sara Rosenberg

New York, Oct. 11 – Aggreko (Albion Financing 3 Sarl) was scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a non-fungible €300 million senior secured add-on term loan B due Aug. 16, 2026 that is talked at Euribor plus 475 basis points with a 0% floor and an original issue discount of 99 to 99.5, according to a market source.

The add-on term loan has 101 soft call protection for six months, the source said.

Expected term loan ratings are B1/BB-/BB+.

Barclays, Goldman Sachs and JPMorgan Chase Bank are the physical bookrunners on the deal. BofA Securities Inc., HSBC, Lloyds, Santander, SMBC and Standard Chartered are joint bookrunners. Glas is the administrative agent.

Commitments are due at 10 a.m. ET on Oct. 18, the source added.

Proceeds will be used for general corporate purposes, including acquisitions.

Aggreko is a Glasgow, U.K.-based provider of modular power generation and temperature control equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.