Minimax reveals price talk on U.S. and euro term loans

By Sara Rosenberg

New York, June 5 – Minimax released price talk on its €502 million equivalent U.S. dollar seven-year covenant-light term loan B and €514 million seven-year covenant-light term loan B with its London bank meeting on Tuesday, according to a market source.

A bank meeting for U.S. investors will take place at 10 a.m. ET in New York on Thursday.

The U.S. term loan is talked at Libor plus 300 basis points with a 0.75% Libor floor and an original issue discount of 99.5, and the euro term loan is talked at Euribor plus 325 bps with a 0% floor and a discount of 99.5, the source said.

The company’s €1,206,000,000 equivalent of credit facilities (B1/B+) also include a €40 million six-year revolver and a €150 million six-year guarantee line.

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

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

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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