Eden Springs refinances LBO with €210m five year FRN

Eden Springs watercooler for GC web
By Stefanie Linhardt
16 Apr 2014

Eden Springs, a provider of watercoolers and coffee makers, has sold its debut high yield bond, less than a year after its buyout by Rhône Capital.

Israeli company Mey Eden sold Eden Springs to Rhône for €240m in June 2013. The private equity firm provided €100m of equity towards the buyout.

The original LBO debt comprised an €87m seven year term loan ‘B’ priced at 525bp over Euribor, a €29m term loan ‘A’ and a ...

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