Keyloop prices upsized €70 million fungible term loan add-on at Euribor plus 400 bps at par

By Paul A. Harris

Portland, Ore., April 23 – Keyloop (Concorde Lux Sarl) priced an upsized €70 million fungible add-on term loan B due March 1, 2028 at Euribor plus 400 basis points with no floor and a par issue price on Tuesday, and the deal allocated, according to a market source.

The loan upsized from €65 million.

The price came at the rich end of the final 99.75 to par price talk. Earlier guidance was in the 99.5 area.

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

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.

© 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.