Mehilainen updates talk on €380 million incremental loan, repricing

By Sara Rosenberg

New York, Dec. 4 – Mehilainen Yhtiot Oy set pricing on its €380 million incremental first-lien term loan B (B/B+) due August 2025 and repricing of its existing first-lien term loan B (B2/B/B+) at Euribor plus 375 basis points, the low end of the Euribor plus 375 bps to 400 bps talk, according to a market source.

In addition, after a six month ratchet holiday, the term loan debt includes a step-down to Euribor plus 350 bps at less than 4.25x first-lien leverage and a step-down to Euribor plus 325 bps at less than 3.75x first-lien leverage, the source said.

Also, the original issue discount talk on the term loan debt was revised to a range of 99.75 to par from just 99.75.

Barclays and Nordea are the global coordinators on the deal. Danske Bank, Credit Agricole, HSBC, MUFG and SMBC are the bookrunners. Danske Bank is the agent.

Commitments are due at noon GMT on Thursday.

CVC Capital Partners is the sponsor.

Mehilainen is a private health care and social care provider in Finland.

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