Infra Group to launch €600 million term loan B on Tuesday

By Sara Rosenberg

New York, Sept. 18 – Infra Group (Finco Utilitas BV) is scheduled to hold a lender presentation at 4:30 a.m. ET on Tuesday to launch a €600 million seven-year term loan B (B2/B), according to a market source.

Citigroup Global Markets Inc. is the sole physical bookrunner on the deal. Goldman Sachs, Natixis, Bank of Ireland, RBC Capital Markets, Mizuho and CIC are mandated lead arrangers and bookrunners. Kroll is the administrative agent.

Price talk on the term loan is Euribor plus 450 basis points with a 0% floor and an original issue discount of 98 to 99, the source said.

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

Commitments are due at 9 a.m. ET on Sept. 26, the source added.

Proceeds will be used with equity to fund the acquisition of a majority stake in the company by PAI and refinance existing debt. PAI is joining current investors ICG, Andera Partners and management.

Closing is subject to customary regulatory approvals.

Infra Group is a Belgium-based multi-disciplinary network infrastructure services provider.

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