Refresco to launch $1.59 billion, €1.53 billion term loans on Monday

By Sara Rosenberg

New York, Jan. 19 – Refresco Group BV will hold a lender call at 10:30 a.m. ET on Monday to launch a $1.594 billion term loan B due 2029 and a €1.53 billion term loan B due 2029, according to a market source.

JPMorgan Chase Bank is the left lead on the U.S. loan and KKR Capital Markets is a physical bookrunner, and Goldman Sachs, JPMorgan, KKR and Rabobank are the joint physical bookrunners on euro loan. ABN Amro, Commerzbank and ING are passive bookrunners. JPMorgan is the agent.

Price talk on the U.S. term loan is SOFR plus 375 basis points with a 0.5% floor and a par issue price, and talk on the euro term loan is Euribor plus 400 bps with a 0% floor and a par issue price, the source said.

The term loans have 101 soft call protection for six months.

Commitments for the U.S. loan are due at 5 p.m. ET on Thursday and commitments for the euro loan are due at noon ET on Thursday, the source added.

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

Refresco is a Rotterdam, the Netherlands-based beverage producer.

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