Sebia launches $225 million term loan B at SOFR plus 450-475 bps

By Sara Rosenberg

New York, Nov. 22 – Sebia held a lender call on Tuesday to launch a $225 million covenant-lite term loan B due December 2027 that is talked at SOFR plus 450 basis points to 475 bps with a 0% floor and an original issue discount of 97 to 98, according to a market source.

The term loan has 101 soft call protection for six months and no CSA, the source said.

The company also launched an €890 million covenant-lite term loan B due December 2027 that is talked at Euribor plus 450 bps to 475 bps with a 0% floor and a discount of 97 to 98.

Nomura is the sole global coordinator and physical bookrunner on the deal. Credit Agricole, HSBC, Natixis and others to be announced are joint bookrunners and mandated lead arrangers.

Commitments are due at 10 a.m. ET on Nov. 30, the source added.

Proceeds will be used to extend an existing U.S. term loan due 2024 that is priced at Libor plus 325 bps, an existing euro term loan due 2024 that is priced at Euribor plus 275 bps and an existing euro term loan due 2024 that is priced at Euribor plus 350 bps.

Sebia is a France-based multi-specialty in-vitro diagnostics company focusing on oncology, genetic hemoglobin and metabolic disorders.

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