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Fluidra reprices $426 million term loan debt at Libor plus 200 bps
By Paul A. Harris
Portland, Ore., Jan. 22 – Fluidra (Zodiac Pool Solutions LLC) repriced $426 million of first-lien term loan debt due July 2025 (Ba3/BB) at Libor plus 200 basis points from 225 bps, according to a market source.
The deal, which priced at par, came at the wide end of the Libor plus 175 bps to 200 bps spread talk.
The 0% Libor floor and the 1% per annum amortization rate are unchanged.
The 101 soft call protection resets for six months.
Allocations were expected on Wednesday.
Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and BBVA are the lead arrangers on the deal.
Fluidra is a Sabadell, Spain-based provider of pool equipment and solutions.
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