Action Holding increases term loan B-4 amount to $1.5 billion

By Sara Rosenberg

New York, Oct. 18 – Action Holding BV (Peer Holding III BV/Peer USA LLC) upsized its seven-year term loan B-4 to $1.5 billion from $1 billion, according to a market source.

Talk on the term loan remained at SOFR plus 350 basis points with a 0% floor and an original issue discount of 99.

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

Bank of America, Barclays and Deutsche Bank are the left lead global coordinators and lead arrangers, with Bank of America the primary left lead. BNP Paribas, Citigroup, Rabobank and Goldman Sachs are global coordinators and lead arrangers. ABN Amro, Credit Agricole, Natixis, RBC and SMBC are lead arrangers. Rabobank is the administrative agent.

Commitments continued to be due at 5 p.m. ET on Wednesday, the source added.

Proceeds will be used with some surplus cash on the balance sheet to fund a financing-related distribution and/or share buyback, to pay transaction fees and expenses, and to put cash on the balance sheet of the group and/or for general corporate purposes.

Action is a non-food discount retailer in Europe.

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