Springer Nature to launch $868 million, €2.15 billion loans on Friday

By Sara Rosenberg

New York, Jan. 28 – Springer Nature is scheduled to hold a lender call at 10 a.m. ET on Friday to launch an $868 million term loan due August 2026 and a €2.154 billion term loan due August 2026, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the deal.

Price talk on the U.S. term loan is Libor plus 325 basis points with a 0.75% Libor floor and a par issue price, and talk on the euro term loan is Euribor plus 300 bps with a 0.5% floor and a par issue price, the source said.

The term loans have 101 soft call protection for six months.

Commitments are due on Feb. 4, the source added.

Proceeds will be used to extend by two years the existing U.S. and euro term loans and reprice the existing U.S. term loan down from Libor plus 350 bps with a 1% Libor floor.

Existing lenders are being offered a 12.5 bps consent fee.

Springer Nature is a Germany-based scientific publishing company.

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