Albea releases $406 million and €385 million term loan price talk

By Sara Rosenberg

New York, March 6 – Albea Beauty Holdings SA released price talk on its $406 million first-lien term loan (B2/B) due April 2024 and €385 million first-lien term loan (B2/B) due April 2024 in connection with its bank meeting in London on Tuesday, according to a market source.

A call for U.S. investors will take place at 10 a.m. ET on Wednesday.

Price talk on the U.S. term loan is Libor plus 325 basis points to 350 bps with a 1% Libor floor and an original issue discount of 99.75, and talk on the euro term loan is Euribor plus 350 bps to 375 bps with a 0% floor and a discount of 99.75, the source said.

Both term loans have 101 soft call protection for six months.

Credit Suisse and BNP Paribas are the bookrunners on the deal, with BNP Paribas acting as administrative agent.

Commitments are due at 5 p.m. ET on March 14.

Proceeds will be used to refinance existing U.S. and euro term loans due April 2024.

Albea is a Paris-based maker of plastic packaging for beauty and personal care products.

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