Group Services France to launch €446 million term loan B on Wednesday

By Sara Rosenberg

New York, April 11 – Group Services France (GSF) is scheduled to hold a global lender call at 8 a.m. ET on Wednesday to launch a €446 million covenant-lite first-lien term loan B due July 2029, according to a market source.

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

Price talk on the term loan is Euribor plus 500 basis points with an ESG-linked margin adjustment of +/- 10 bps, a 0% floor and an original issue discount in the 94 area, the source said.

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

Commitments are due at 7 a.m. ET on April 21, the source added.

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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