EG Group launches $450 million term B, €330 million second-lien loan

By Sara Rosenberg

New York, Feb. 25 – EG Group held a lender call on Thursday to launch a $450 million first-lien term loan B (B3/B-/B) due March 2026, according to a market source.

The term loan B, which is being issued by EG America LLC, has 101 soft call protection for six months.

The company also launched a €330 million second-lien term loan (Caa2/CCC/CCC) due April 2027, which is being issued by EG Finco Ltd., the source said.

Call protection on the second-lien term loan is 102 in year one and 101 in year two.

The company will hold one on ones with investors on Friday and Monday.

Barclays is the lead left bookrunner on the first-lien term loan B and a joint global coordinator and bookrunner with JPMorgan and Rabobank. Other bookrunners include BofA Securities Inc., Deutsche Bank, ING, Lloyds, Morgan Stanley and SMBC. Barclays is the administrative agent.

Bookrunners on the second-lien term loan are Barclays, BofA Securities, Deutsche Bank, HSBC, Lloyds, Morgan Stanley and Rabobank.

Commitments are due at noon ET on March 10, the source added.

Proceeds will be used to help fund the acquisition of Asda Group Ltd.’s forecourts for an enterprise value of £750 million and 285 petrol station forecourts in Southern Germany from OMV Deutschland GmbH for €485 million.

EG Group is a Blackburn, U.K.-based convenience retail and fuel station company.

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