Group Services France prices €446 million term loan B at Euribor plus 500 bps at 95

By Paul A. Harris

Portland, Ore., April 21 – Group Services France (GSF) priced its €446 million covenant-lite first-lien term loan B due July 2029 (B1/B) with a 500 basis points spread to Euribor at 95, according to a market source.

There is an ESG-linked margin of plus or minus 10 bps.

Price talk on the term loan was Euribor plus 500 bps with an ESG-linked margin adjustment of plus or minus 10 bps, a 0% floor and an original issue discount in the 94 area.

The loan has no Euribor floor.

BNP Paribas, Credit Agricole and Societe Generale are the joint physical bookrunners on the deal. Credit Agricole is the agent.

The term loan has 101 soft call protection for six months.

Proceeds will be used to fund an acquisition and pay transaction related costs.

Trevise Holdings 1 is the borrower.

Group Services France is a B2B provider of cleaning and associated services in France with premium positioning.

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