Prosol changes €250 million add-on term loan OID to 96.75

By Sara Rosenberg

New York, March 12 – Prosol (ZF Invest/ZF Bidco) revised the original issue discount talk on its fungible €250 million add-on covenant-lite term loan B due July 2028 (B3/B-) to a range of 96.5 to 96.75 from just 96.5 and then finalized the discount at 96.75 after the 8 a.m. ET commitment deadline passed, according to a market source.

The margin on the add-on term loan will be the same as the existing term loan B, and the debt has a 0% floor.

Previously in syndication, the add-on term loan was upsized from €200 million.

BNP Paribas Securities Corp. and Credit Agricole are the physical bookrunners on the deal. Natixis is the agent.

Allocations went out on Tuesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings and to add cash to the balance sheet to support future external growth.

Ardian is the sponsor.

Prosol is a multichannel specialized food retailer.

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