Staci wraps €65M term loan add-on

Staci SAS has wrapped the €65 million fungible add-on to its €248 million E+500 term loan due October 2026 at 99.5, from talk of 99-99.5. Societe Generale was sole bookrunner.

Final terms suggest a yield of 5.43%. Proceeds will refinance revolver drawings and repay an equity bridge loan provided by sponsor Ardian in May to finance the acquisition of Base Logistics Group. Staci's original loan allocated in October 2019 to support Ardian's acquisition of the international logistics and services provider. The loan comes with one maintenance covenant and is not publicly rated.

Staci has a strong focus in complex logistics flow, and its combination with Base Logistics means that more than 50% of its sales come from outside France. The group expects to generate more than €450 million of sales for full year 2021.