Meridian Adhesives to launch $300 million term loan on Wednesday

By Sara Rosenberg

New York, July 6 – Meridian Adhesives Group Inc. is scheduled to hold a lender call at 1 p.m. ET on Wednesday to launch a $300 million term loan (B2), according to a market source.

JPMorgan Chase Bank, RBC Capital Markets and Jefferies LLC are the leads on the deal.

Price talk on the term loan is Libor plus 375 basis points with a 0.75% Libor floor and an original issue discount of 99 to 99.5, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on July 15, the source added.

Proceeds will be used to refinance existing debt and fund acquisitions.

Meridian Adhesives is a manufacturer of high-value adhesive technologies.

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