France’s Colisee sets Tuesday lender call for €875 million seven-year term loan

By Paul A. Harris

Portland, Ore., Sept. 28 – France-based elderly care services provider Financiere Colisee SAS plans to launch an €875 million term loan B due October 2027 (B2/B) on a lender call set to begin at 8 a.m. ET on Tuesday, according to a market source.

Credit Suisse, BNP Paribas and Societe Generale are the physical bookrunners and lead arrangers. Barclays is also a physical bookrunner. Credit Agricole, Credit Industriel et Commercial, ING Bank, Natixis and JPMorgan are joint bookrunners.

The seven-year loan comes with no Libor floor and features 101 soft call for six months.

The covenant-lite deal has a springing senior secured net leverage financial covenant set at a ratio of 9.85-times, and tested when drawn 40% for the benefit of the revolver.

Commitments are due at 7 a.m. ET on Oct. 9.

The borrowing entity will be Cobalt BidCo.

Proceeds will be used to fund the acquisition of Colisee by EQT Infrastructure, CDPQ (Infrastructure) and management, and refinance existing debt.

The company is based in Bordeaux.

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