Meridian Adhesives flexes $300 million loan at Libor plus 400 bps

By Sara Rosenberg

New York, July 16 – Meridian Adhesives Group Inc. raised pricing on its $300 million term loan (B2/B) to Libor plus 400 basis points from Libor plus 375 bps, according to a market source.

Also, the original issue discount on the term loan firmed at 99, the wide end of the 99 to 99.5 talk, the source said.

The term loan still has a 0.75% Libor floor and 101 soft call protection for six months.

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

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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