PDC Brands launches $25 million incremental term loan B at par

By Sara Rosenberg

New York, Dec. 14 – PDC Brands (Parfums Holding Co. Inc.) launched to existing lenders only a fungible $25 million incremental term loan B due June 30, 2024 that is talked at Libor plus 475 basis points with a 1% Libor floor and a par issue price, according to a market source.

The spread and floor on the incremental loan matches the existing term loan B pricing.

Like the existing loan, the incremental term loan has 101 soft call protection until June 30, 2018.

Nomura is the arranger on the deal.

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

Proceeds will be used with up to $20 million of revolving credit facility borrowings to provide a distribution to shareholders.

Closing is expected next week.

PDC is a Stamford, Conn.-based beauty and personal care products company.

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