Axilone launches €81.6 million add-on loan at Euribor plus 400 bps

By Sara Rosenberg

New York, April 3 – Axilone (CCP Lux Holding Sarl) launched a fungible €81.6 million add-on senior secured first-lien term loan due January 2025 that is talked at Euribor plus 400 basis points with a 0% floor and a par issue price, according to a market source.

Barclays and RBC are the bookrunners on the deal, with Barclays the left lead. RBC is the administrative agent.

Proceeds will be used to refinance an existing €80 million second-lien term loan and to pay related fees and expenses.

With this transaction, the spread on the existing first-lien term loan will be reset to match the add-on loan pricing.

Also, some amendments are being sought in order to effectuate the transaction and to modify some commercial terms to bring them in line with current market levels, the source added.

Consents and add-on term loan commitments are due at noon GMT on April 10.

Axilone is a Paris-based packaging specialist, manufacturing primarily plastic and metal packaging for the lipstick, fragrance and skin care segments.

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