US Ecology readies launch of $400 million term loan B for Tuesday

By Sara Rosenberg

New York, Aug. 1 – US Ecology Inc. is scheduled to hold a bank meeting at 10 a.m. ET in New York on Tuesday to launch a $400 million seven-year covenant-lite term loan B, according to a market source.

Wells Fargo Securities LLC is the left lead arranger on the deal.

The term loan is talked with 101 soft call protection for six months and amortization of 1% per annum, the source said.

Commitments are due at 3 p.m. ET on Aug. 15.

Proceeds will be used to refinance NRC Group Holdings Corp.’s existing debt and pay transaction related fees in connection with US Ecology’s all-stock acquisition of NRC Group.

US Ecology is a Boise, Idaho-based provider of environmental services to commercial and government entities. NRC Group is a Great River, N.Y.-based provider of environmental, compliance and waste management services.

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