Boels sets Tuesday lender call for €985.5 million term loan B

By Paul A. Harris

Portland, Ore., May 29 – Boels plans to kick off a €985.5 million term loan B due February 2027 at a lender meeting on Tuesday, according to a market source.

The deal, via borrower Beols Topholding BV, is priced with a 400 basis points spread to Euribor, with a 0% Euribor floor, at 92 to 93. The loan features 12 months of soft call protection at 101. Commitments are due June 8.

The company also plans to put in place a €625 million term loan A due August 2026, which will be priced at Euribor plus 375 bps with a 0% Euribor floor. The pro rata tranche amortizes at a rate of 5% annually.

Both tranches feature maintenance leverage covenants.

Credit Suisse, ING, ABN Amro, Rabobank and BNP Paribas are the joint bookrunners.

The equipment rental firm is based in the Netherlands.

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