Brook + Whittle to launch $478 million term loan on Tuesday

By Sara Rosenberg

New York, Nov. 29 – Brook + Whittle (Merion Rose Merger Sub Inc.) is scheduled to hold a lender call at 1 p.m. ET on Tuesday to launch a $478 million seven-year first-lien term loan, of which $100 million is a delayed-draw tranche, according to a market source.

The company’s $697 million of credit facilities also include a $50 million revolver and a $169 million privately placed second-lien term loan.

Credit Suisse Securities (USA) LLC, Wells Fargo Securities LLC, Jefferies LLC and BMO Capital Markets are the lead arrangers on the deal.

The first-lien term loan has 101 soft call protection for six months, the source said.

Ticking fees on the delayed-draw first-lien term loan are half the margin from days 61 to 120 and the full margin thereafter.

Commitments are due at 5 p.m. ET on Dec. 14, the source added.

Proceeds will be used to help fund the buyout of the company by Genstar Capital from TruArc Partners.

Brook + Whittle is a Guilford, Conn.-based manufacturer of pressure sensitive labels, shrink sleeves, flexible packaging and heat transfer labels.

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