Arvos Holding talks €130 million add-on term loan B at 99.5 OID

By Sara Rosenberg

New York, March 31 – Arvos Holding GmbH is seeking a fungible €130 million add-on covenant-light term loan B due Aug. 29, 2021 at original issue discount talk of 99.5, according to a market source.

Pricing on the add-on term loan is Euribor plus 450 basis points with a 1% floor, which matches existing term loan B pricing, the source said.

Amortization on the loan is 1% per annum.

Barclays, Citigroup and RBC are the arrangers on the deal, with Citigroup the administrative agent.

Proceeds will be used to repay a U.S. dollar second-lien term loan.

Commitments are due on April 19, the source added.

Arvos is a Heidelberg, Germany-based supplier of clean technology for the thermal power market, critical heat transfer solutions for process industries and grinding equipment.

© 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.