Clarios to launch U.S. and euro term loan repricing on Friday

By Sara Rosenberg

New York, Feb. 18 – Clarios Global LP is scheduled to hold a lender call at 10 a.m. ET on Friday to launch a repricing of its existing U.S. term loan B (B1/B/B+) due April 30, 2026 and a repricing of its existing euro term loan B (B1/B/B+) due April 30, 2026, according to a market source.

J.P. Morgan Securities LLC and Barclays are leading the deal, with JPMorgan the left lead on the U.S. loan and Barclays the left lead on the euro loan.

Price talk on the U.S. term loan is Libor plus 300 basis points to 325 bps with a 0% Libor floor and a par issue price, and talk on the euro term loan is Euribor plus 325 bps to 350 bps with a 0% floor and an original issue discount of 99.75, the source said.

Both term loans are talked with 101 soft call protection for six months.

Currently, the U.S. term loan is sized at $4.072 billion and the euro term loan is sized at €1.89 billion, but there is expected to be an up to $200 million equivalent paydown of the debt, the source continued. The split of how much U.S. and euro term loan debt will be repaid is still to be determined.

Commitments are due at noon ET on Wednesday, the source added.

Clarios is a Milwaukee-based supplier of low voltage automotive batteries.

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