Prosol increases add-on term loan B amount to €250 million

By Sara Rosenberg

New York, March 11 – Prosol (ZF Invest/ZF Bidco) upsized its fungible add-on covenant-lite term loan B due July 2028 to €250 million from €200 million, according to a market source.

The margin on the add-on term loan will be the same as the existing term loan B, and the debt has a 0% floor.

Original issue discount talk on the add-on term loan is 96.5, the source said.

BNP Paribas Securities Corp. and Credit Agricole are the physical bookrunners on the deal. Natixis is the agent.

Commitments continue to be due at 8 a.m. ET on Tuesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings and to add cash to the balance sheet to support future external growth.

Ardian is the sponsor.

Prosol is a multichannel specialized food retailer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.