Euro Garages repricing a 'big test' for levloan market
UK forecourt operator Euro Garages held a lender call this morning for a repricing request on its £250m and €585m term loans, a deal one investor on Thursday said was a potential barometer of where market pricing now is.
Euro Garages is looking to reprice its £250m term loan from a margin of 550bp to 475bp-500bp and its €585m term loan by even more, from 500bp to 375bp-400bp. Both have a 0% floor, which will remain unchanged.
“That’s a big cut, on the euros especially,” said a
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