EQT Partners AB set the interest rate that will be paid on 865 million euros ($1 billion) of senior leveraged loans backing its buyout of BSN Medical, according to a person with knowledge of the deal.
A 225 million-euro term loan B denominated in dollars, a 50 million-euro revolving credit, and a 75 million-euro acquisition facility will pay interest of 475 basis points more than benchmark lending rates, while the remaining 515 million-euro term loan will have an interest margin of 500 basis points, said the person, who asked not to be named because the terms are private.
The benchmark lending rates will have a 1.25 percent floor, the person said.
Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley are arranging the senior financing, according to data compiled by Bloomberg.
The banks plan to host meetings for potential lenders tomorrow in London and June 28 in New York, the person said.
EQT said on June 11 that it agreed to buy BSN from Montagu Private Equity LLP for 1.8 billion euros.
A basis point is 0.01 percentage point.
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