Springer Nature to launch U.S. and euro term loans on Friday

By Sara Rosenberg

New York, Oct. 18 – Springer Nature is scheduled to hold a call on Friday to launch a $1,292,000,000 term loan and a €1,895,000,000 term loan, 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 350 basis points with a 1% Libor floor and an original issue discount of 99.875, and talk on the euro term loan is Euribor plus 325 bps with a 0.5% floor and a discount of 99.875, the source said.

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

Proceeds will be used to refinance existing debt.

Commitments are due on Oct. 26, the source added.

Springer Nature is a Germany-based scientific publishing company.

© 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.