SUSE firms €550 million term loan at Euribor plus 400 bps

By Sara Rosenberg

New York, April 12 – SUSE (Marcel BidCo) finalized pricing on its €550 million term loan B due November 2030 at Euribor plus 400 basis points, the low end of the Euribor plus 400 bps to 425 bps talk, according to a market source.

The euro term loan still has a 0% floor and a par issue price.

The company is also getting a roughly $673 million term loan B due November 2030 that priced in line with talk at SOFR plus 400 bps with a 0.5% floor and a par issue price.

Both term loans (B2/B+) have 101 soft call protection for six months, and the U.S. term loan has amortization of 1% per annum.

JPMorgan Chase Bank is the sole physical bookrunner on the deal. BofA Securities Inc., Deutsche Bank Securities Inc., Goldman Sachs, HSBC Securities and Jefferies LLC are passive bookrunners. JPMorgan is the administrative agent.

Proceeds will be used to reprice an existing U.S. term loan down from SOFR plus 450 bps with a 0.5% floor and an existing euro term loan down from Euribor plus 450 bps with a 0% floor.

SUSE is a Nuremberg, Germany-based provider of open-source infrastructure software for large enterprises.

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