Sterigenics revises term loan commitment size to $470 million

By Sara Rosenberg

New York, May 9 - Sterigenics International LLC amended its credit facility commitment letter to increase the term loan amount to the lesser of $470 million, from the lesser of $435 million, and the maximum amount of term loans permitted under the company's existing secured notes indenture, according to a 6-K filed with the Securities and Exchange Commission on Friday.

The facility is still expected to include a $75 million revolver.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, RBC Capital Markets LLC and UBS Securities LLC are the lead banks on the deal.

Other funds for the transaction will come from up to $47 million in equity and cash on hand.

Proceeds will be used to help fund the acquisition of Nordion Inc. for $12.25 per share, increased from $11.75 per share.

Closing is expected in the second half of this year, subject to Nordion shareholder approval, receipt of regulatory approvals and other customary conditions.

Sterigenics is a Deerfield, Ill.-based sterilization services company. Nordion is an Ottawa-based health science company.

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