Moody's rates Eleda loans B2

Moody's Investors Service said it assigned a B2 corporate family rating and a B2-PD probability of default rating to Platea (BC) Bidco AB (Eleda).

Concurrently, Moody's assigned a B2 rating to the proposed SEK 8.5 billion euro-equivalent (€753.95 million) senior secured term loan B due 2031, the proposed €150 million senior secured multi-currency revolving credit facility due 2030 and the proposed SEK 1.735 billion euro-equivalent (€153.89 million) senior secured delayed-draw term loan due 2031 issued by Platea (BC) Bidco AB.

The outlook is stable.

The proceeds from the new senior debt facilities will be used alongside equity financing, to fund the proposed acquisition of a majority stake in Eleda by Bain Capital Private Equity and to cover related transaction costs.

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