MBCC Group talks $570 million term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, March 9 – MBCC Group launched on Tuesday its $570 million covenant-lite term loan B (B2/B/BB-) due September 2027 with price talk of Libor plus 375 basis points to 400 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

As previously reported, the company is also getting a €1.1 billion covenant-lite term loan B (B2/B/BB-) due September 2027 that is talked at Euribor plus 350 bps to 375 bps with a 0% floor and an original issue discount of 99.75.

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

Deutsche Bank Securities Inc. is the active bookrunner on the U.S. term loan, and Barclays and Deutsche Bank are the active bookrunners on the euro term loan. Passive bookrunners include Goldman Sachs, Intesa, JPMorgan Chase Bank, UBS Investment Bank, Unicredit and SMBC. US Bank is the administrative agent.

Commitments are due at noon ET on March 18.

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

MBCC Group, previously known as Skyscraper, is a Mannheim, Germany-based producer of performance solutions for the construction market.

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