Springer Nature completes cross-border repricing, extension; terms

Investors have received allocations of Springer Nature Deutschland GmbH's repriced €2.154 billion term loan B-17 and $868 million term loan B-18, according to sources. The euro-denominated tranche priced at E+300, with a 0.50% floor while the dollar-denominated tranche priced at L+325, with a 0.75% Libor floor. The maturity of both term loans was extended to August 2026, from August 2024, and lenders received a 12.5 basis points amendment fee. The transaction was completed via sole bookrunner J.P. Morgan and Barclays is administrative agent. The repricing lowers the spread on the euro-denominated tranche from E+325 and the dollar-denominated tranche is being repriced from L+350, with a 1% Libor floor. The maturity of the multicurrency €250 million revolving credit facility is also being extended to February 2026, from February 2024. Springer Nature provides academic science, technology, and medicine-related content and services. Terms:

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