Centrient prices €515 million term loan B at Euribor plus 525 bps

Chicago, April 25 – Centrient Holding BV priced its €515 million term loan B (B3/B-) directly on top of price talk on Thursday, according to a market source.

The loan, which constitutes a two-year extension of the company’s existing term loan B to October 2027, is priced at Euribor plus 525 basis points with a 0% floor. The discount is 98.5.

The term loan has 101 soft call protection for one year and has a deferred fee of 100 bps due six months post-closing should no exit have occurred.

Citigroup Global Markets Inc., Goldman Sachs and HSBC Securities are the joint physical bookrunners on the deal. Barclays, Jefferies LLC, Mizuho, Morgan Stanley Senior Funding Inc. and RBC Capital Markets are the joint bookrunners. HSBC is the administrative agent.

Proceeds are being used to extend the existing term loan.

The deal allocated on Thursday.

Bain Capital is the sponsor.

Centrient is a Netherlands-based B2B pharmaceutical developer and manufacturer of intermediates, active pharmaceutical ingredients and finished dosage forms.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.