Inetum launches minimum €65 million add-on term loan at 97-97.5 OID

By Sara Rosenberg

New York, June 20 – Inetum (Granite France Bidco) held a lender call at 4 a.m. ET on Tuesday to launch a fungible minimum €65 million add-on covenant-lite first-lien term loan B due October 2028 (B2/B) that is talked with an original issue discount of 97 to 97.5, according to a market source.

Pricing on the add-on term loan is Euribor plus 500 basis points with a 0% floor, in line with pricing on the company’s existing €943.4 million term loan B.

BNP Paribas is the sole physical bookrunner on the deal. BBVA, Credit Agricole, Credit Suisse, Goldman Sachs, Macquarie, RBI, Societe Generale and Unicredit are bookrunners.

Commitments are due at 7 a.m. ET on Friday, the source added.

Proceeds will be used to partially repay an existing term loan A.

Bain Capital is the sponsor.

Inetum is a France-based provider of IT services and solutions.

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