KronosNet shops €450 million term loan B at Euribor plus 575 bps

By Sara Rosenberg

New York, Sept. 14 – KronosNet is in market with a €450 million seven-year term loan B (B2) that is talked at Euribor plus 575 basis points with a 0% floor and an original issue discount in the 93 area, according to a market source.

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

BNP Paribas, Credit Agricole, Deutsche Bank and JPMorgan are the global coordinators and physical bookrunners on the deal that launched with a lender call on Monday. Santander, NatWest and Bank of Ireland are joint bookrunners.

Commitments are due at 5 a.m. ET on Sept. 27, the source added.

Proceeds will be used with a €350 million term loan A (B2) to create KronosNet through the merger of Konecta, a provider of Spanish-speaking customer experience BPO solutions, and Comdata, a Milan-based service provider in customer management BPO.

Closing is expected this quarter, following regulatory approval.

KronosNet will be based in Madrid.

© 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.