Apleona Debt Deal Navigates Choppy Markets to Price (1)

Banks managed to sell a debt deal to back Bain Capital’s acquisition of German real estate outfit Apleona Group GmbH on Thursday after navigating one of the most volatile market periods in recent times.

The €2.35 billion ($2.6 billion)-equivalent term loan priced at a margin of 425 basis points over Euribor and an original issue discount of 98, terms that were considerably more generous compared with those at its launch on March 31.

Investors had been watching the deal closely following the decision of flooring maker Tarkett to pull a €1 billion term loan on Monday due to adverse ...