Grandir finalizes €125 million add-on term loan B at 97 OID

By Sara Rosenberg

New York, March 13 – Grandir (Education Group SAS) firmed the original issue discount on its fungible €125 million add-on term loan B due September 2028 at 97, the tight end of the 96 to 97 talk, according to a market source.

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

The add-on term loan has 101 soft call protection for six months.

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

The add-on term loan allocated on Monday, 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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