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Mediq shops €500 million term loan at Euribor plus 375-400 bps
By Sara Rosenberg
New York, Feb. 16 – Mediq (Magellan Dutch Bidco BV) is talking its €500 million seven-year covenant-lite term loan B at Euribor plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 99.5, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
BNP Paribas, HSBC and UBS are the joint global coordinators and physical bookrunners. ING is a joint physical bookrunner. Deutsche Bank and Danske are joint bookrunners. Wilmington Trust is the agent.
Commitments are due at 9 a.m. ET on Feb. 24, the source added.
Proceeds will be used to pay purchase price considerations, to refinance existing debt, to fund fees and expenses, and for general corporate purposes.
Mediq is an Utrecht, Netherlands based Pan-European medical equipment and service provider.
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