MBCC Group to launch $570 million, €1.1 billion term loans on Tuesday

By Sara Rosenberg

New York, March 8 – MBCC Group is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch a $570 million covenant-lite term loan B due September 2027, according to a market source.

The company will also hold a call at 5:30 a.m. ET on Tuesday to launch a €1.1 billion covenant-lite term loan B due September 2027.

Deutsche Bank Securities Inc. is the active bookrunner on the U.S. term loan, and Barclays and Deutsche Bank are the active bookrunners on the euro term loan. Passive bookrunners include Goldman Sachs, Intesa, JPMorgan Chase Bank, UBS Investment Bank and Unicredit. US Bank is the administrative agent.

Price talk on the euro term loan is Euribor plus 350 basis points to 375 bps with a 0% floor and an original issue discount of 99.75, the source said.

Price talk on the U.S. term loan is not yet available.

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

Commitments are due at noon ET on March 18, the source added.

Proceeds will be used to refinance a privately placed U.S. term loan and reprice an existing euro term loan down from Euribor plus 450 bps with a 0% floor.

MBCC Group, previously known as Skyscraper, is a Mannheim, Germany-based producer of performance solutions for the construction market.

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