Primary: Asda Launches €1.05B TLB Due 2031 to Refinance Existing 2026 Maturities; Global Investor Call April 23 at 10 am BST

Mon 04/22/2024 10:31 AM

For covenant analysis of this transaction, click HERE to submit the loan document.

Company:	ASDA Group
Borrower:	Bellis Acquisition Company plc
Facilities:	EUR Term Loan B due 2031 (7 yr)
Currency:	EUR
Size:	EUR 1,050m
Call Protection:	6m 101 SC
Expected Ratings (M/S/F):	TBC
Business:	Third largest grocery retailer in the UK , with a ~14% market share and significant real estate backing
UoP:	Proceeds from the EUR TLB, GBP 1,750m other senior secured debt and cash from balance sheet used to refinance majority of existing 2026 maturities and pay transaction related fees and expenses
Physical Bookrunners, Joint GloCo & JBR:	Barc, DB, JPM, HSBC
Joint GloCo & JBR:	BoC, BofA, Intesa, Lloyds, MS, NatWest, Rabo, SMBC, RBC
JBR:	Citi
	Barc lead left on all tranches in this transaction
Agent:	Barc
Dealsite:	Debtdomain
GIC:	Tuesday, 23rd April 2024, 10am UKT
Management Meetings	Tuesday, 23rd April 2024 & Wednesday, 24th April 2024
Commitments Due:	Thursday, 2nd May 2024, 12pm UKT