Refinitiv plans to cut euro loan pricing
Refinitiv is repricing its €2.33bn term loan 'B', after Bank of America held a lender call on Tuesday to approve the deal. The financial data company is set to be purchased by the London Stock Exchange Group later this year, but is looking to cut the costs of the debt it took on for its 2018 takeover by Blackstone, GIC and CPPIB. A repricing of its $6.5bn term loan before Christmas shaved 50bp off the margin.
The US repricing, finalised on December 18, came at the tight end of guidance, lowering the margin from 375bp over Libor to 325bp.Talk released for the euro repricing, following the lender call on Tuesday afternoon, was for 350bp-375bp over Euribor with a 0% floor and an original issue ...
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