International-Matex to launch $450 million term loan on Wednesday

By Sara Rosenberg

New York, Dec. 1 – International-Matex Tank Terminals (RS Ivy Holdco) is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch a $450 million seven-year senior secured term loan, according to a market source.

Jefferies LLC, Goldman Sachs Bank USA and Barclays are the bookrunners on the deal.

The term loan has a debt service coverage ratio covenant and a debt service reserve account of six months of interest and amortization on the term loan, the source said.

Proceeds will be used to help fund the acquisition of the company by Riverstone Holdings LLC from Macquarie Infrastructure Corp. for total consideration of $2.685 billion.

Closing is expected in late 2020 or early in 2021, subject to customary approvals and conditions.

International-Matex is a New Orleans-based handler and storer of bulk liquid products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.