HBX Group allocates €760 million term B-3, €822 million term D-2

By Sara Rosenberg

New York, March 22 – HBX Group (HNVR Holdco Ltd.) allocated on Friday a €760 million term loan B-3 due September 2028 and an €822 million term loan D-2 due September 2027, according to a market source.

Pricing on the term loan B-3 is Euribor plus 450 basis points with a 0% floor and a par issue price, and pricing on the term loan D-2 is Euribor plus 425 bps with a 0% floor and a par issue price, the source said.

Both term loans have 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc., Barclays, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are the joint active bookrunners on the deal. BofA Securities, Bank of Ireland, Goldman Sachs Bank Europe SE, HSBC and J.P. Morgan Securities plc are joint bookrunners. UniCredit is the administrative agent.

Proceeds will be used to reprice the company’s existing term loan B-2 down from Euribor plus 475 bps and term loan D down from Euribor plus 525 bps, and to refinance an existing term loan B-1.

HBX Group, formerly known as Hotelbeds, is a B2B travel marketplace and tech solutions provider.

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