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%.
Convatec (B+/B2) ...Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: subs@globalcapital.com
Or sign up for a trial to gain full access to the entire site for a limited period.
Corporate access
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.
