Ivirma lifts euro term B to €565 million, revises euro and U.S. OID

By Sara Rosenberg

New York, March 15 – Ivirma upsized its euro seven-year term loan B to €565 million from €550 million, according to a market source.

In addition, the original issue discount on the euro term loan and on the company’s $500 million seven-year term loan B was tightened to 99.5 from 99, the source said.

Pricing on the U.S. and euro term loans remained at SOFR/Euribor plus 450 basis points with a 0% floor.

The term loans (B2/B/B+) still have 101 soft call protection for six months, and the U.S. term loan has amortization of 1% per annum.

KKR Capital Markets is the sole physical bookrunner on the U.S. term loan, with Barclays and BofA Securities Inc. bookrunners. Barclays, BofA Securities and KKR are the physical bookrunners on the euro term loan. CVC Capital Markets, Deutsche Bank Securities Inc., Intesa, Mizuho, Morgan Stanley Senior Funding Inc., MUFG, Santander, SMBC, Societe Generale and UniCredit are passive bookrunners. Santander is the agent.

Commitments were scheduled to be due at 10 a.m. ET on Friday, the source added.

Proceeds will be used to refinance existing debt and pay the relevant transaction fees and expenses.

IVI America LLC is the borrower for the U.S. term loan, and Inception Finco is the borrower for the euro term loan.

KKR is sponsor.

Ivirma, which has headquarters in Valencia, Spain, and Basking Ridge, N.J., is a fertility platform.

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