Spotless’s TLB add-on more than twice covered

Spotless’s existing lenders have consented to a new €70m add-on facility for the French cleaning products firm, with the new term loan ‘B’ more than twice covered in syndication.

  • 11 Apr 2013

“It was hugely oversubscribed,” said a banker close to the deal. “I think the pricing is good, and the tenor is going slightly longer than the existing financing but still shorter than usual.”

The new €70m loan carries a margin of 500bp over Euribor and was allocated at par. ...

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