Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers F > Headlines for Fluidra > News item |
Fluidra trims pricing on $525 million and €425 million term loans
By Sara Rosenberg
New York, March 6 – Fluidra reduced pricing on its $525 million seven-year first-lien term loan (Ba3/BB) to Libor plus 225 basis points from Libor plus 275 bps and on its €425 million seven-year first-lien term loan (Ba3/BB) to Euribor plus 275 bps from Euribor plus 300 bps, according to a market source.
Also, the original issue discount on the U.S. term loan was revised to 99.75 from 99.5 and the discount talk on the euro loan was changed to a range of 99.75 to par from 99.5, the source said.
Both term loans still have a 0% floor and 101 soft call protection for six months.
Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Bank of America Merrill Lynch and BBVA are the leads on the deal, with Credit Suisse the left lead on the U.S. loan and Citigroup the left lead on the euro loan.
Commitments continued to be due on Tuesday, the source added.
Proceeds will be used to fund the merger of Fluidra with Zodiac Pool Solutions.
Closing is expected in the first half of this year, subject to the approval of Fluidra’s shareholders and other customary conditions.
Fluidra is a Sabadell, Spain-based developer of products and applications for the commercial and residential pool markets. Zodiac, a Rhône Capital portfolio company, is a Vista, Calif.-based manufacturer of residential pool equipment and connected pool solutions.
© 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.