Sapec Agro to launch €378.3 million credit facilities on Wednesday

By Sara Rosenberg

New York, May 25 – Sapec Agro (European Crops Products 2 Sarl) is scheduled to hold a bank meeting in London on Wednesday to launch €378.3 million of credit facilities, according to a market source.

BNP Paribas, Credit Agricole, HSBC and Rabobank are the bookrunners and mandated lead arrangers on the deal.

The facilities consist of a €60 million 5.5-year multi-currency revolver and a €318.3 million 6.5-year covenant-light term loan B, the source said.

Proceeds will be used to refinance existing debt, finance add-on acquisitions and fund a permitted payment.

Commitments are due at the close of business on June 13, the source added.

Bridgepoint is the sponsor.

Sapec Agro is a Portugal-based developer, manufacturer and supplier of specialty crop nutrition and crop protection solutions.

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