Signature Foods allocates €341M buyout term loan; terms

The €341 million seven-year term loan supporting Pamplona’s buyout of Signature Foods BV has allocated in-line with revised terms given earlier today at E+350 with a 0% floor, offered at par via physical bookrunners J.P. Morgan (left) and ING. Pricing gives a yield of 3.55%, and compares with the guidance given at the launch of E+400 with a 0% floor at 99 that was tightened to E+375, 0% at 99.50-99.75 before final terms emerged today. Proceeds back Pamplona’s buyout of Signature from IK Investment Partners that was announced in December 2020. The term loan comes with six months of soft call protection, and Barclays and Goldman Sachs are also joint bookrunners. A €62 million revolver rounds out the debt. Signature is headquartered in Hilversum, the Netherlands, and employs more than 600 people across seven manufacturing sites in the Netherlands, Belgium and Poland. The firm operates in both the branded and private label sectors, and its portfolio includes well-known local brands such as Johma and Hamal. Terms: