Mehilainen launches €1.21 billion term B at Euribor plus 400-425 bps

By Sara Rosenberg

New York, March 14 – Mehilainen was scheduled to hold a lender call at 10 a.m. ET on Thursday and small group meetings on Friday to launch a €1.21 billion covenant-lite term loan B due August 2028 that is talked at Euribor plus 400 basis points to 425 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 and a six-month ratchet holiday, the source said.

Barclays, Goldman Sachs, Jefferies and Nordea are the joint physical bookrunners on the deal. Danske, MUFG and SMBC are joint bookrunners. Danske is the agent.

Commitments are due at 11 a.m. ET on March 21, the source added.

Proceeds will be used to extend by three years an existing €1.21 billion term loan B due August 2025.

Mehilainen, backed by a CVC-led consortium, is a Finland-based health and social care provider.

© 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.