House of HR to reprice €1.17 billion term loan due 2029 at Euribor plus 500 bps, 99.5-99.75 OID

By Paul A. Harris

Portland, Ore., April 22 – House of HR launched a repricing of a €1.17 billion amount of its House of HR Group BV term loan due November 2029 (B2/B) on Monday, according to a market source.

The Belgium-based provider of HR solutions seeks to cut the margin on the loan to Euribor plus 500 basis points from 550 bps and is offering the repriced paper at 99.5 to 99.75.

Commitments are due at 5 a.m. ET on Friday.

The loan’s 101 soft call protection will reset at six months when the deal closes.

Barclays and JPMorgan are the physical bookrunners. ING, Mizuho, Rabobank and SG are the joint bookrunners.

JPMorgan is the agent.

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