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Babilou wraps €110 million add-on term loan B at 95 OID
By Sara Rosenberg
New York, Dec. 2 – Babilou priced and allocated on Friday a fungible €110 million add-on term loan B due Nov. 17, 2027 with an original issue discount of 95, according to a market source.
Pricing on the add-on term loan is Euribor plus 400 basis points with a 0% floor, in line with existing term loan B pricing.
BNP Paribas Securities Inc. and JPMorgan Chase Bank are the joint physical bookrunners on the deal. JPMorgan is the administrative agent.
Proceeds will be used to repay revolving credit facility borrowings, fund recent acquisition activity, add cash to the balance sheet and pay transaction-related fees and expenses.
Pro forma for the transaction, the term loan B totals €797 million.
Babilou is a France-based provider of childcare and early education services.
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