Creed wraps €250 million term loan B at Euribor plus 500 bps

By Sara Rosenberg

New York, Oct. 29 – Creed (Fontaine Ltd.) completed syndication of a €250 million covenant-lite term loan B due May 2027 at pricing of Euribor plus 500 basis points with a 0% floor, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Credit Suisse is the physical bookrunner on the deal. Deutsche Bank and Societe Generale are joint bookrunners.

Proceeds will be used to fund the acquisition of the company by Blackrock Long Term Private Capital together with management, overfund the balance sheet and pay for related fees and expenses.

Creed is a Paris-based producer of luxury fragrances.

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