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Monbake launches €275 million term loan B at Euribor plus 475 bps
By Sara Rosenberg
New York, April 20 – Monbake Grupo Empresarial launched on Thursday its €275 million term loan B due December 2027 with price talk of Euribor plus 475 basis points with a 0% floor and an original issue discount of 98, according to a market source.
The term loan has covenants and private ratings.
BNP Paribas Securities Corp. is the sole active bookrunner on the deal. Credit Agricole and Natixis are passive bookrunners. BNP Paribas is the agent.
Commitments are due at 9 a.m. ET on April 27.
Proceeds will be used to amend and extend an existing €275 million term loan B due February 2025 that is priced at Euribor plus 375 bps.
Monbake is an operator in the frozen bread and bakery market in Spain.
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