Stark Group seeks €400 million term loan at Euribor plus 500 bps

By Sara Rosenberg

New York, March 22 – Stark Group (Winterfell Financing Sarl) launched a non-fungible €400 million add-on term loan B due May 2028 (B2) that is talked at Euribor plus 500 basis points with a 0% floor and an original issue discount in the 95 area, according to a market source.

The add-on term loan has 101 soft call protection for six months, the source said.

BNP Paribas and JPMorgan Chase are the joint physical bookrunners on the deal. Other bookrunners include Bank of America, Danske, Lloyds, NatWest Markets, Nordea and Nykredit. Credit Suisse is the administrative agent.

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

Proceeds will be used to refinance the company’s existing Nordic term loan, to repay revolving credit facility borrowings and to add cash to the balance sheet.

Stark Group is a building materials distributor in Europe with presence in the Nordics, Germany, Austria, and the United Kingdom.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.