Cegid shops €700 million term loan B at Euribor plus 425-450 bps

By Sara Rosenberg

New York, Sept. 15 – Cegid (Claudius Finance Sarl) is seeking a non-fungible €700 million senior secured covenant-lite add-on first-lien term loan B due July 2028 that is talked at Euribor plus 425 basis points to 450 bps with a 0% floor and an original issue discount of 99, according to a market source.

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

BNP Paribas Securities Corp. and Barclays are the joint physical bookrunners on the deal. Citigroup Global Markets Inc., Deutsche Bank Securities Inc., KKR Capital Markets LLC and UBS Investment Bank are the passive bookrunners.

Commitments are due at 6 a.m. ET on Sept. 22, the source added.

Proceeds will be used to fund a shareholder dividend.

Cegid, owned by Silver Lake, Altaone, KKR and Oakley, is a Lyon, France-based enterprise management software and cloud services provider.

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