Grandir to launch €125 million add-on term loan B on Tuesday

By Sara Rosenberg

New York, March 6 – Grandir (The Education Group SAS) is scheduled to hold a lender call at 4 a.m. ET on Tuesday to launch a fungible €125 million add-on term loan B due September 2028, according to a market source.

BNP Paribas Securities Corp. and Societe Generale are the physical bookrunners on the deal.

Pricing on the add-on term loan is Euribor plus 425 basis points with a 0% floor.

The add-on term loan is talked with an original issue discount of 96 to 97 and has 101 soft call protection for six months, the source said.

Commitments are due at 8 a.m. ET on March 14, the source added.

Proceeds will be used to repay revolving credit facility borrowings, refinance an equity bridge and fund acquisition activity under exclusivity.

Grandir, owned by Infravia, Sodexo, Athina Conseil (founder) and management, is a provider of child care, back-up care, early education and parenthood services.

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