Fresenius to launch $996 million, €165 million term loan C on Friday

By Sara Rosenberg

New York, Feb. 22 - Fresenius SE is scheduled to hold a lender call on Friday at 10 a.m. ET to launch an approximately $996 million and a roughly €165 million term loan C, according to a market source.

Deutsche Bank is the lead bank on the deal.

Price talk on the term loan C is Libor plus 300 basis points with a 1.75% Libor floor, and it will be sold at par, the source said.

The term loan C will include 101 soft call protection for one year.

Proceeds will be used to refinance the existing term loan B that is priced at Libor plus 350 bps with a 3.25% Libor floor.

The new term loan C will mature in September 2014, the same maturity as the existing term loan B.

All existing term loan lenders will receive 100 bps, which is the existing call protection and consenting lenders to the amendment that is being launched in conjunction with the term loan C will also receive 25 bps.

Commitments are due on March 9.

Fresenius is a Bad Homburg, Germany-based provider of products and services for individuals undergoing dialysis.

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