Wolfskin copies Spie’s 50bp margin uplift, follows Vitalia with second-lien tranche
Bookrunners on the €500m LBO loan for German outdoor clothing retailer Jack Wolfskin have responded to investor feedback in early bird syndication by increasing margins by 50bp and replacing €70m of the term loan ‘B’ with a more lucrative second-lien tranche.
"We went out to a few guys, listened to what they said, and made the necessary changes," said a banker close to the deal. "The second lien piece will be offered to everyone."Wolfskins move to increase margins follows that of Spie, which on June 22 added 50bp to ...
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