Douglas to launch €300 million incremental term loan B on Wednesday

By Sara Rosenberg

New York, May 23 – Douglas GmbH is scheduled to hold a lender call on Wednesday to launch a €300 million incremental covenant-light term loan B due August 2022, according to a market source.

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

The incremental loan has a 0% floor and 101 soft call protection for six months, the source said.

Spread and original issue discount talk are still to be determined.

Term loan ratings are expected at B1/B.

Proceeds will be used for acquisition financing and to add cash to the balance sheet.

Commitments are due at 8 a.m. ET on June 2, the source added.

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

© 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.