Rubix Group to launch €1.19 billion term loan B on Wednesday

By Sara Rosenberg

New York, Jan. 24 – Rubix Group Midco 3 Ltd. is scheduled to hold a lender call at 9 a.m. ET on Wednesday and small group meetings on Thursday and Friday to launch a €1.19 billion term loan B due September 2026 (B2/B-), according to a market source.

BNP Paribas, Goldman Sachs and KKR Capital Markets are the active bookrunners on the deal. Lloyds Bank, Morgan Stanley and HSBC are the passive bookrunners. Lloyds Bank is the agent.

The term loan has a 0% floor and 101 soft call protection for six months, the source said.

Spread and original issue discount talk on the term loan are not yet available.

Commitments are due at 7 a.m. ET on Feb. 7, the source added.

Proceeds will be used to amend and extend an existing €1.19 billion term loan B due September 2024 that is priced at Euribor plus 375 basis points.

Rubix is a London-based distributor of industrial maintenance, repair and overhaul (MRO) products and services.

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