Mehilainen firms €1.21 billion term loan B at Euribor plus 400 bps

By Sara Rosenberg

New York, March 22 – Mehilainen set pricing on its €1.21 billion covenant-lite term loan B due August 2028 (B2/B/B+) at Euribor plus 400 basis points, the low end of the Euribor plus 400 bps to 425 bps talk, according to a market source.

Also, the issue price on the term loan was changed to par from 99.5, the source said.

The term loan still has a 0% floor and 101 soft call protection for six months.

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.

The term loan allocated on Friday, 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.