Keyloop launches €65 million add-on term loan at 99.5 area OID

By Sara Rosenberg

New York, April 17 – Keyloop (Concorde Lux Sarl) was scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a fungible €65 million add-on term loan B due March 1, 2028 that is talked with an original issue discount in the 99.5 area (+/- 0.25 point), according to a market source.

Small group question and answer meetings are available on Wednesday and Friday.

Pricing on the add-on term loan is Euribor plus 400 basis points with a 0% floor, in line with existing term loan B pricing.

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

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

Proceeds will be used to fund the acquisition of Automotive Transformation Group, a Kent, U.K.-based provider of automotive technology focused on omnichannel retail solutions, and to pay related transaction costs and expenses.

Keyloop is a Leeds, U.K.-based provider of mission-critical dealer management systems for automotive retailers.

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