Mediq completes €500M loan; terms

Mediq BV has allocated a €500 million term loan via joint global coordinators and physical bookrunners BNP Paribas, HSBC and UBS. The new seven-year facility wrapped at E+350 with a 0% floor at par, inside original price talk of E+375-400 at 99.5. Proceeds will be used to fund acquisitions, refinance debt and for general corporate purposes. Leverage is roughly 4.9x, according to sources. ING is also a joint physical bookrunner on the deal, while Deutsche Bank and Danske Bank are joint bookrunners.

Based in Utrecht, the Netherlands, Mediq operates in 13 European countries. It has been owned by Advent International since 2013. The company has made a number of recent add-on acquisitions, and in January it announced the takeover of Swiss medical device distributor GD Medical and Hungary's Replant 4 Care.

Terms: