Flint Group reveals talk on U.S. and euro term loan repricing

By Sara Rosenberg

New York, May 12 – Flint Group (Colouroz Investment) released price talk on the repricing of its $856 million first-lien term loan due Sept. 7, 2021 and its €622 million first-lien term loan due Sept. 7, 2021 in connection with its call on Tuesday, according to a market source.

The U.S. term loan is talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor and a 99.9 to par issue price, and the euro term loan is talked at Euribor plus 300 bps to 325 bps with a 1% floor and a 99.9 to par issue price, the source said.

Included in the repriced loans is 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc., Goldman Sachs Bank USA and Deutsche Bank Securities Inc. are the lead banks on the deal.

With the repricing, the company is also seeking an amendment to its credit facility to increase the junior debt prepayment basket to €100 million from €30 million, the source added.

Commitments and consent pages are due at noon ET on Friday.

Flint is a Luxembourg-based supplier of inks and other print consumables.

© 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.