Apcoa trims spread on add-on, repriced term B to Euribor plus 325 bps

By Sara Rosenberg

New York, Jan. 31 – Apcoa Parking Holdings GmbH reduced pricing on its fungible €94 million add-on senior secured term loan B due March 20, 2024 and on the repricing of its existing €420 million senior secured term loan B due March 20, 2024 to Euribor plus 325 basis points from Euribor plus 350 bps, according to a market source.

As before, the term loans have a 0% floor and a par issue price.

Barclays is the arranger on the deal. JPMorgan, Goldman Sachs, Deutsche Bank and NatWest are passive bookrunners.

Commercial commitments were scheduled to be due at noon ET on Friday, and formal consent forms are due at 7 a.m. ET on Tuesday, the source said.

Proceeds from the add-on term loan will be used to fund a distribution to shareholders.

Apcoa is a Stuttgart, Germany-based car park operator.

© 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.