Flint Group finalizes pricing on U.S. and euro first-lien term loans

By Sara Rosenberg

New York, May 15 – Flint Group (Colouroz Investment) set pricing on its $856 million first-lien term loan due Sept. 7, 2021 at Libor plus 350 basis points, the wide end of the Libor plus 325 bps to 350 bps talk, and on its €622 million first-lien term loan due Sept. 7, 2021 at Euribor plus 325 bps, the high end of the Euribor plus 300 bps to 325 bps talk, according to a market source.

Furthermore, the issue price on the term loans firmed at par, which is within the 99.9 to par talk, the source said.

The term loans still have a 1% Libor floor and 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.

Proceeds will be used to reprice existing U.S. and euro term loans.

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.

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

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