OSLO: Adevinta ASA has launched an offering of approximately EUR 1.06 billion aggregate principal amount of senior secured notes, consisting of notes due 2025 and 2027, a news release said.
Adevinta previously announced its plans to syndicate a new senior secured Term Loan B facility consisting of a EUR900 million EUR-denominated tranche and a $500 million U.S. dollar-denominated tranche (the “Term Loan B”).
The aggregate principal amount of the Senior Secured Notes and the Term Loan B is expected to be EUR2.386 billion, which will be used to, among other things, fund a portion of the cash consideration for the acquisition of eBay Classifieds Group (“eCG”) and refinance existing debt.
The Senior Secured Notes and Term Loan B will be guaranteed by certain subsidiaries of Adevinta and eCG and secured by shares of certain of the guarantors as well as certain material bank accounts and the intercompany receivables of Adevinta.