Befesa tightens €90 million add-on term loan B OID talk to 99.75-par

By Sara Rosenberg

New York, June 29 – Befesa SA revised original issue discount talk on its €90 million add-on term loan B due July 2026 to a range of 99.75 to par from a range of 99.25 to 99.5, according to a market source.

Pricing on the add-on term loan is Euribor plus 200 basis points with a 0% floor.

The add-on term loan has 101 soft call protection for six months.

Citigroup Global Markets Inc. is the bookrunner and agent on the deal.

Commitments continue to be due at 11 a.m. ET on June 30.

Proceeds will be used with an equity offering to finance the acquisition of American Zinc Recycling Corp.’s recycling assets, for general corporate purposes and to pay transaction fees and expenses.

Befesa is a provider of regulated critical hazardous waste recycling services to the steel and aluminum industries.

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