Eviosys changes €400 million term loan spread to Euribor plus 400 bps

By Sara Rosenberg

New York, Jan. 25 – Eviosys revised price talk on its €400 million first-lien incremental term loan B2 due August 2028 (B2/B/B+) to a range of Euribor plus 400 basis points to 425 bps from just Euribor plus 425 bps, and then finalized pricing at Euribor plus 400 bps, according to a market source.

Also, the issue price on the term loan firmed at par, the tight end of the 99.75 to par talk, the source said.

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

Barclays is the sole physical bookrunner on the deal. BNP Paribas, BoC, Credit Agricole, Deutsche Bank, Intesa, MUFG, Rabobank, Raiffeisen and Unicredit are passive bookrunners. Barclays is the administrative agent.

Recommitments were scheduled to be due at noon ET on Thursday, the source added.

Proceeds will be used to reprice an existing first-lien incremental term loan B down from Euribor plus 475 bps with a 0% floor.

Eviosys is a European manufacturer of metal packaging.

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