Minimax Viking updates pricing on U.S. and euro term loans

By Sara Rosenberg

New York, Oct. 19 – Minimax Viking firmed pricing on its minimum $500 million term loan B due July 2028 at SOFR plus 275 basis points, the low end of the SOFR plus 275 bps to 300 bps talk, and on its minimum €450 million term loan B due July 2028 at Euribor plus 325 bps, the low end of the Euribor plus 325 bps to 350 bps talk, according to a market source.

Also, the original issue discount talk on both term loans (Ba3/BB-) was changed to a range of 99.5 to 99.75, from 99, the source said.

The U.S. term loan still has a 0.75% floor, the euro term loan still has a 0% floor, and both term loans still have 101 soft call protection for six months.

Deutsche Bank is the global coordinator and physical bookrunner on the deal. UniCredit and Commerzbank are passive bookrunners.

Recommitments for the U.S. term loan were scheduled to be due at 2 p.m. ET on Thursday, and recommitments for the euro term loan were scheduled to be due at 9 a.m. ET on Thursday, the source added.

Proceeds will be used to amend and extend an existing $569 million term loan B due July 2025 and an existing €488 million term loan B due July 2025, and to pay transaction related fees and expenses.

Minimax is a Bad Oldesloe, Germany-based fire protection company.

© 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.