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Delachaux Group wraps $200 million term loan B at discount of 99
By Sara Rosenberg
New York, April 2 – Delachaux Group SA completed syndication of its $200 million term loan B at an original issue discount of 99, versus initial talk of 99.5, according to a market source.
Pricing on the loan is Libor plus 450 basis points with a 0% Libor floor.
Earlier in syndication, the spread on the term loan firmed at the wide end of the Libor plus 425 bps to 450 bps talk.
The company’s credit facilities (B2) also include a €75 million revolving credit facility and a €678 million term loan B.
BNP Paribas, Credit Agricole, CIB, Deutsche Bank, HSBC and Societe Generale are the leads on the deal.
Proceeds will be used to refinance existing debt and to fund an acquisition.
Delachaux is a France-based provider of mission-critical engineered solutions.
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