Refresco Holding finalizes €400 million term loan B at 98.5 OID

By Sara Rosenberg

New York, July 28 – Refresco Holding BV firmed the original issue discount on its €400 million covenant-lite term loan B (B1/B+) due March 2025 at 98.5, the tight end of the 98 to 98.5 talk, according to a market source.

Pricing on the term loan is Euribor plus 400 basis points with a 0% floor.

Included in the term loan is 101 soft call protection for six months and a ticking fee of half the spread from days 46 to 90 and the full spread thereafter.

BNP Paribas and Credit Suisse are the physical bookrunners on the deal. Deutsche Bank and Rabobank are joint bookrunners.

Commitments continued to be due on Tuesday, the source added.

Proceeds will be used to fund prospective acquisitions in the United States and Europe and to pay related fees and expenses.

Refresco is a Rotterdam, the Netherlands-based bottler of beverages.

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