Salt launches €150 million add-on term loan B to investors

By Sara Rosenberg

New York, Jan. 24 – Salt (Matterhorn Telecom SA) held a lender presentation at 9 a.m. ET on Wednesday to launch a fungible €150 million add-on covenant-lite term loan B due September 2026, according to a market source.

Pricing on the add-on term loan is Euribor plus 237.5 basis points, which is expected to step-up in line with the existing ratchet post first-quarter results, with a 0% floor.

Goldman Sachs and BNP Paribas are the physical bookrunners on the deal. Kroll Agency Services is the administrative agent.

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

Proceeds will be used to partially refinance the company’s existing 2.625% senior secured notes due Sept. 15, 2024, at or prior to maturity.

Salt is a Swiss telecom operator.

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