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Monbake readies launch of €275 million term loan B for Thursday
By Sara Rosenberg
New York, April 19 – Monbake Grupo Empresarial is set to hold a lender call at 5:45 a.m. ET on Thursday to launch a €275 million term loan B due December 2027, according to a market source.
BNP Paribas Securities Corp. is the sole active bookrunner on the deal. Credit Agricole and Natixis are passive bookrunners. BNP Paribas is the agent.
The term loan has a 0% floor and covenants, the source said.
Ratings are private.
Commitments are due at 9 a.m. ET on April 27, the source added.
Proceeds will be used to amend and extend an existing €275 million term loan B due February 2025 that is priced at Euribor plus 375 basis points.
Monbake is an operator in the frozen bread and bakery market in Spain.
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