Apleona to launch €1.12 billion credit facilities on Tuesday

By Sara Rosenberg

New York, Feb. 1 – Apleona will hold a lender presentation at 4 a.m. ET on Tuesday to launch €1.115 billion of credit facilities, according to a market source.

Citigroup, Deutsche Bank and UniCredit are the physical bookrunners on the deal. Bank of America, HSBC, Natixis and SMBC are bookrunners. Deutsche Bank is the agent.

The facilities consist of a €740 million seven-year term loan B, a €145 million 6.5-year revolver and a €230 million six-year guaranteed facility, the source said.

Included in the term loan B is a 0% floor and 101 soft call protection for six months.

Expected credit facilities ratings are B2/B.

Commitments are due at noon ET on Feb. 11, the source added.

Proceeds will be used to help fund the buyout of the company by PAI Partners from EQT for a total transaction value of about €1.6 billion, refinance existing debt, and pay fees, costs and expenses in connection with the transaction.

Closing is expected early in the second quarter, subject to customary conditions and approvals.

Apleona is a Neu-Isenburg, Germany-based integrated facilities management services provider.

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