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Hut Group wraps €600 million term loan B at Euribor plus 450 bps
By Sara Rosenberg
New York, Dec. 10 – The Hut Group (THG Operations Holding Ltd.) finalized its €600 million seven-year covenant-lite term loan B in line with talk at 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.
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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