TMF Group to launch $400 million, €950 million term loans on Tuesday

By Sara Rosenberg

New York, April 17 – TMF Group (TMF Sapphire Bidco BV) is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch a minimum $400 million term loan B due May 2028 and a €950 million term loan B due May 2028, according to a market source.

Small group meetings for the transaction will take place on Wednesday and Thursday.

Barclays, Goldman Sachs, HSBC Securities and Nomura are the physical bookrunners on the deal. Deutsche Bank is a passive bookrunner. HSBC is the agent.

The term loans have 101 soft call protection for six months, the source said.

Expected ratings are B2/B.

Commitments are due at 10 a.m. ET on April 27, the source added.

Proceeds will be used to extend the maturity of an existing €950 million term loan B due May 2025, to refinance existing second-lien debt, to repay revolving credit facility borrowings and for acquisition activity.

CVC and ADIA are the sponsors.

TMF Group is an Amsterdam-based provider of legal financial and employee administration services.

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