Euro Ethnic Foods talks €465 million term B at Euribor plus 400 bps

By Sara Rosenberg

New York, Jan. 15 – Euro Ethnic Foods Bidco launched on its call on Friday its €465 million seven-year term loan B (B1/B) with price talk of Euribor plus 400 basis points with a 0% floor and an original issue discount of 99 to 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Credit Suisse, UBS and Credit Agricole are the physical bookrunners on the deal. Bank of America, Banque Populaire, Deutsche Bank and Goldman Sachs are joint bookrunners.

Commitments are due at noon ET on Jan. 28.

Proceeds will be used to help fund the acquisition of a 60% interest in the company by PAI Partners. The company’s founders Leo and Patrick Bahadourian will own the remaining 40% of the business.

Euro Ethnic Foods is a French specialty food retailer.

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