Minimax to launch €1.2 billion equivalent facilities in June 4 week

By Sara Rosenberg

New York, June 1 – Minimax is scheduled to hold a bank meeting in London on Tuesday and a bank meeting at 10 a.m. ET in New York on Thursday to launch €1,206,000,000 equivalent of credit facilities, according to a market source.

Deutsche Bank is the physical bookrunner on the deal, and Commerzbank and Unicredit are bookrunners.

The facilities consist of a €40 million six-year revolver, a €150 million six-year guarantee line, a €514 million seven-year covenant-light term loan B and a €502 million equivalent U.S. dollar seven-year covenant-light term loan B, the source said.

Expected ratings are B1/B+.

Final commitments are due at the close of business on June 14, the source added.

Proceeds will be used to refinance existing term loans, with cashless roll available, and to fund a distribution to direct shareholder MV Holding to fund a share buyback.

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

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