Axalta Coating to launch U.S. and euro term loan B’s on Wednesday

By Sara Rosenberg

New York, Nov. 29 – Axalta Coating Systems is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a $1,775,000,000 term loan B due February 2023 and a €187 million term loan B due February 2023, according to a market source.

Barclays is the bookrunner on the deal (Ba1/BBB-).

Proceeds will be used to refinance $1,775,000,000 in term loans due 2020 and €187 million in term loans due 2020.

The transaction will feature certain covenant changes to the existing credit agreement, the source added.

Axalta is a Philadelphia-based manufacturer, marketer and distributor of coatings systems.

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