Delachaux closes tightly on euros and finalises sizes on its tranches

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By Ross Lancaster
25 Sep 2014

Delachaux has finalised pricing on all three tranches of its €690m-equivalent seven year term loan ‘B', effectively tightening it, while revising its incurrence conditions on leverage.

The borrower has sized the deal’s euro tranche at €355m, with its margin widening to 450bp over Euribor. Pricing on the euros represented an increase from initial guidance of 400bp-425bp over Euribor.

But the CVC-owned French industrial company dropped a 1% Euribor floor and ...

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