Rovensa to launch €80 million add-on term loan B on Thursday

By Sara Rosenberg

New York, Oct. 21 – Rovensa (Root Bidco Sarl) is scheduled to hold a lender call at 5 a.m. ET on Thursday to launch a fungible €80 million add-on term loan B due 2027, according to a market source.

Pricing on the add-on term loan is Euribor plus 450 basis points with a 0% floor, in line with the existing term loan B pricing.

Original issue discount talk on the add-on term loan is not yet available, the source said.

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

Commitments are due at 7 a.m. ET on Oct. 29, the source added.

Proceeds will be used to help fund the acquisition of Oro Agri, a provider of environmentally friendly biocontrol solutions, from the Omnia Group, and to pay related transaction fees and expenses.

Closing on the acquisition is expected this year, subject to approval of the shareholders of Omnia Holdings Ltd., as well as certain merger control and other clearances.

Partners Group and Bridgepoint are the sponsors.

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

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