Rovensa makes documentation changes to €440 million term loan B

By Sara Rosenberg

New York, Aug. 12 – Rovensa (Root Bidco Sarl) made some documentation changes to its €440 million seven-year covenant-lite term loan B (B2/B/B+), according to a market source.

Price talk on the term loan remained at Euribor plus 450 basis points with a 0% floor and an original issue discount of 98.

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

Commitments were scheduled to be due on Wednesday, extended from Tuesday, the source added.

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.

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

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