team.blue changes €250 million term loan OID talk to 97.25-97.5

By Sara Rosenberg

New York, April 10 – team.blue Finco Sarl revised the original issue discount talk on its fungible €250 million add-on covenant-lite first-lien term loan B due March 31, 2028 to a range of 97.25 to 97.5 from 97, according to a market source.

The company is also getting a fungible once drawn €50 million pre-placed delayed-draw covenant-lite first-lien term loan B.

Pricing on the term loan debt is Euribor plus 370 basis points with a 0% floor, in line with existing term loan pricing.

Barclays and JPMorgan Chase Bank are the physical bookrunners on the deal (B3/B). JPMorgan is the administrative agent.

Commitments are due at 5 a.m. ET on Thursday, with allocations expected thereafter, the source added.

Proceeds will be used to repay PIK including accrued interest, to add cash to the balance sheet for general corporate purposes and mergers and acquisitions, and to pay associated transaction fees and expenses.

team.blue, owned by HG and management, is a Belgium-based provider of digital solutions.

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