Douglas readies launch of €1.37 billion term loan for Thursday

By Sara Rosenberg

New York, Jan. 17 – Douglas GmbH will hold a lender call on Thursday to launch a €1.37 billion covenant-light term loan (B1/B) due August 2022 with price talk of Euribor plus 375 basis points to 400 bps with no floor and a rollover fee/original issue discount of 12.5 bps, according to a market source.

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

Deutsche Bank Securities Inc. is the physical bookrunner on the deal, with joint bookrunners Goldman Sachs & Co., J.P. Morgan Securities LLC and UniCredit.

Proceeds will be used to refinance an existing term loan B.

Commitments are due on Jan. 24, the source added.

Douglas is a Hagen, Germany-based retailer of beauty and personal care products.

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