Minimax Viking to launch U.S. and euro term loans on Tuesday

By Sara Rosenberg

New York, Dec. 5 – Minimax Viking is set to hold a lender call at 11 a.m. ET on Tuesday to launch a €327 million-equivalent U.S. term loan B and a €304 million term loan B, according to a market source.

Deutsche Bank Securities Inc. is the left bookrunner on the deal.

Price talk on the U.S. term loan B is Libor plus 275 basis points with a 0.75% Libor floor and talk on the euro term loan B is Euribor plus 300 bps with no floor, the source said.

Original issue discount talk on the term loans is 99.5 to 99.75.

The debt has 101 soft call protection for six months, and maximum leverage and interest coverage covenants.

Proceeds will be used to amend and extend the existing term loan B’s.

The extension will push out the maturities on the term loan B’s by three years to August 2023.

Expected ratings are Ba3/BB-.

Commitments are due at 5 p.m. ET on Dec. 16, the source added.

Minimax Viking is a fire protection company with headquarters in Bad Oldesloe in Schleswig-Holstein, Germany.

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