BSN Medical wraps up loan refi

BSN Medical, the German bandage maker, allocated the refinancing of its euro and dollar term loan 'Bs' late last week. The issuer achieved margins 75bp-100bp tighter than original guidance after attracting investor interest despite a quiet August in the leveraged loan market.

  • By Olivier Holmey
  • 27 Aug 2013

The deal fully refinanced the borrower’s existing €455m euro tranche and increased it by €40m. BSN Medical priced the tranche at 325bp over Euribor, down from updated guidance of 350bp-375bp and 425bp originally. The Euribor floor remained unchanged at 1%.

The dollar tranche of about $280m, meanwhile, was ...

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