Springer tranches cov-lite loan package

German publisher Springer Science has laid out the structure of its new €2.5bn equivalent cross-border cov-lite loan. The debt, which is supporting the company’s €3.3bn acquisition by private equity firm BC Partners, will primarily be denominated in dollars but will also include two smaller euro tranches.

  • By Olivier Holmey
  • 04 Jul 2013

The credit facilities include a seven year term loan ‘B’ — via two portions of $1.553bn and €565m — and a €150m revolver.

Barclays, Crédit Suisse, Goldman Sachs, JP Morgan, Nomura and UBS are joint bookrunners on the deal. A bank meeting with lenders will take place either on ...

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2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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5 Credit Suisse 37,323.31 115 5.73%