Solmax launches $100 million incremental term loan at 99-99.5 OID

By Sara Rosenberg

New York, Nov. 17 – Solmax launched on Wednesday its fungible $100 million incremental first-lien term loan due July 23, 2028 with original issue discount talk of 99 to 99.5, according to a market source.

Pricing on the incremental term loan is Libor plus 475 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

Barclays and TD Securities (USA) LLC are the bookrunners on the deal.

Commitments are due at noon ET on Tuesday, the source added.

Proceeds will be used to fund the acquisition of Propex.

Solmax is a Quebec-based producer of geosynthetics products for industrial and environmental applications.

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