Aggreko downsizes term loan to minimum €200 million, lifts pricing

By Sara Rosenberg

New York, Oct. 18 – Aggreko (Albion Financing 3 Sarl) revised its add-on term loan B due Aug. 16, 2026 to a minimum size of €200 million from a size of €300 million and increased pricing to Euribor plus 525 basis points from Euribor plus 475 bps, according to a market source.

In addition, the add-on term loan was changed to be a fungible tranche from a non-fungible tranche, the source said.

The add-on term loan still has a 0% floor, original issue discount talk of 99 to 99.5 and 101 soft call protection for six months.

Pricing on the company’s existing term loan is Euribor plus 525 bps with a 0% floor.

Barclays, Goldman Sachs and JPMorgan Chase Bank are the physical bookrunners on the deal. BofA Securities Inc., HSBC, Lloyds, Santander, SMBC and Standard Chartered are joint bookrunners. Glas is the administrative agent.

Commitments were scheduled to be due at noon ET on Wednesday, extended from 10 a.m. ET on Wednesday, the source added.

Proceeds will be used for general corporate purposes, including acquisitions.

Aggreko is a Glasgow, U.K.-based provider of modular power generation and temperature control equipment.

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