Hut talks £510 million equivalent euro term B at Euribor plus 450 bps

By Sara Rosenberg

New York, Nov. 22 – The Hut Group (THG Operations Holding Ltd.) launched on Friday its £510 million equivalent euro seven-year covenant-lite term loan B with price talk of Euribor plus 450 basis points with a 0% floor and an original issue discount of 99, according to a market source.

Barclays, Citigroup and HSBC are the global coordinators and mandated lead arrangers on the deal. Santander, JPMorgan and National Westminster Bank are mandated lead arrangers and bookrunners. Barclays is the administrative agent.

Commitments are due at 10 a.m. ET on Dec. 9.

The company is also getting a £150 million five-year revolving credit facility.

Proceeds will be used to refinance existing debt.

Hut Group is a Manchester, England-based technology company focused on beauty and wellbeing retail.

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