PRICED: ADB Safegate €500m TLB E+400, 99.75

May 23, 2025, 2:00 PM UTC

FTT from 3.15pm UKT on May 23.

  • Company: ADB Safegate
  • Sponsor: Carlyle
  • Business: Global leader in airside products, solutions, & services, including airfield ground lighting & control solutions, docking guidance systems & control solutions, and related services & aftermarket parts
  • UoP: Alongside €184m equity injection and €100m HoldCo PIK proceeds, to refinance all existing debt of the business, add cash to balance sheet, and pay related fees & expenses
  • Corporate Ratings (M/S/F): B2 (stable)/B (stable)/B+ (stable)
  • Instrument Ratings (M/S/F): B2/B/B+
  • Tranche Size: €500m
  • Currency: EUR
  • Facility: Term Loan B
  • Tenor: 7yr
  • Final Margin: E+400 (vs E+400-425, E+425-450)
  • Floor: 0%
  • Final ...

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