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Hotelbeds to launch €400 million incremental term loan B on Tuesday
By Sara Rosenberg
New York, March 11 – Hotelbeds (HNVR Holdco Ltd.) is scheduled to hold a lender call on Tuesday to launch a €400 million incremental covenant-light term loan B due September 2025, according to a market source.
HSBC and Morgan Stanley Senior Funding Inc. are the physical bookrunners on the deal. Unicredit is the administrative agent.
The incremental term loan has 101 soft call protection for six months, the source said.
Proceeds will be used with €100 million of cash on hand to fund a shareholder distribution.
Commitments are due on March 20, the source added.
Hotelbeds is an independent B2B accommodations distributor.
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