Kersia prices €65 million add-on term loan B at 99 OID

By Sara Rosenberg

New York, Sept. 26 – Kersia International SAS priced on Tuesday a fungible €65 million add-on senior secured covenant-lite first-lien term loan B due Dec. 23, 2027 with an original issue discount of 99, according to a market source.

Pricing on the add-on term loan is Euribor plus 400 basis points, excluding ESG ratchet, with a 0% floor, in line with existing term loan B pricing.

BNP Paribas and Natixis are the joint physical bookrunners on the deal. Natixis is the agent.

Proceeds will be used to repay revolving credit facility borrowings and to pay related costs and expenses.

Pro forma for the transaction, the term loan B will total €440 million.

Kersia is a France-based biosecurity company focused on the food, farm and healthcare industries.

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