Industrial robotics manufacturer ABB Robotics is debuting in the syndicated market this week with euro and dollar term loans to support its carve-out from ABB and purchase by SoftBank.
The business has a leading market position across geographies, but some investors speaking with 9fin are concerned about the exposure to the cyclical autos market and to lower-cost Chinese peers, as well as some aggressive docs.
The deal is marketed on $337m of structuring EBITDA, sources said. Net leverage comes out at 5.2x and gross 5.5x given $115m of cash and cash equivalents in the structure.
Source: 9fin
Headquartered in Zurich, ABB Robotics produces industrial and collaborative robots for sectors like manufacturing, packaging and logistics. It clocked in $2.3bn in sales in LTM March 2026 across its four segments: Services, Industries, Automotive and Next Markets.
BNP Paribas, Goldman Sachs, HSBC and Mizuho are physical bookrunners on the euros. Goldman Sachs is also sole physical bookrunner on the dollars.
The deal is guided at E/S+400-425bps, above the average E+325-350bps for single-B euro term loan deals (according to 9fin data and excluding repricings) in June and July so far. OID is 98.5 on both tranches.
“Pricing is juicy enough to...
