Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bellis Acquisition Co. plc > News item |
Asda trims spread on €840 million term loan B to Euribor plus 275 bps
By Sara Rosenberg
New York, Feb. 9 – Asda (Bellis Acquisition Co. plc) lowered pricing on its €840 million five-year covenant-lite term loan B (Ba2//BB) to Euribor plus 275 basis points from revised talk of Euribor plus 300 bps and initial talk of Euribor plus 325 bps, according to a market source.
Also, the original issue discount talk on the term loan was changed to a range of 99.5 to par from 99.5, the source said.
The term loan still has a 0% floor.
Barclays is the lead left bookrunner. Deutsche Bank and Morgan Stanley are the joint physical bookrunners. BofA Securities Inc., Lloyds, Rabobank and HSBC are the joint mandated lead arrangers and bookrunners. And, Bank of China, Intesa Sanpaolo, Commerzbank, NatWest and SMBC are mandated lead arrangers. Barclays is the administrative agent.
Commitments continue to be due at 11 a.m. ET on Wednesday, the source added.
Proceeds will be used with bonds and equity to fund the acquisition of the company by the Issa brothers and TDR Capital from Walmart Inc.
Asda is a Leeds, U.K.-based supermarket chain.
© 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.