Convatec expected to reprice in 400bp area
Commitments are due for Convatec’s repricing of its €532m euro-denominated term loan ‘B’, with bankers close to the deal expecting it to come at the wider end of its 375bp-400bp guidance.
“It looks like it’s going to shake out in the 400bp area,” said a banker close to the transaction.
The US wound therapy company was looking to reduce the rate on its euro term loan ‘B’ from 425bp and decrease the Euribor floor from 1.50% to 1.25%.
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