Group of Butchers tightens €110 million term loan to par issue price

By Sara Rosenberg

New York, April 9 – Group of Butchers (Artisan Newco BV) changed the issue price on its fungible €110 million add-on first-lien term loan B due February 2029 to par from talk in the 99.75 area (plus or minus 0.25 point), according to a market source.

Pricing on the term loan is Euribor plus 425 basis points, based on the current margin ratchet, with a 0% floor.

JPMorgan Chase Bank is the bookrunner and administrative agent on the deal.

Commitments are due at 5 a.m. ET on Wednesday with allocations expected thereafter, the source added. The deadline was accelerated from the close of business in Europe on Wednesday.

Proceeds will be used for general corporate purposes, including to fund a pipeline of near-term acquisitions.

Pro forma for the transaction, the term loan B will total €494 million.

Group of Butchers is a supplier and category captain of artisanal meat products across the Netherlands, Belgium, and Germany.

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