Rovensa readies launch of €440 million term loan B for Tuesday

By Sara Rosenberg

New York, July 24 – Rovensa (Root Bidco Sarl) is scheduled to hold a lender call on Tuesday to launch a €440 million seven-year covenant-lite term loan B, according to a market source.

BNP Paribas, Credit Agricole, HSBC and Rabobank are the joint physical bookrunners on the deal. Mizuho and Societe Generale are joint bookrunners.

The term loan has 101 soft call protection for six months, the source said.

Proceeds will be used to help fund Partners Group’s majority stake acquisition in the company from Bridgepoint in a transaction valued at about €1 billion, to refinance existing senior secured debt, and to pay related fees and expenses.

Commitments are due on Aug. 11 the source added.

Rovensa is a Lisbon, Portugal, developer, manufacturer and supplier of specialty crop nutrition, bio control, and crop protection solutions.

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