Meridian Adhesives lifts term loan to $120 million, firms OID at 99.5

By Sara Rosenberg

New York, Nov. 22 – Meridian Adhesives Group Inc. upsized its fungible add-on term loan due 2028 to $120 million from $100 million and set the original issue discount at 99.5, the tight end of the 99 to 99.5 talk, according to a market source.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0.75% Libor floor.

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

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

Recommitments are due at 10 a.m. ET on Tuesday, the source added.

Proceeds will be used to fund acquisitions and for general corporate purposes.

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

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