Sage Products to launch $380 million in term loans on Wednesday

By Sara Rosenberg

New York, Dec. 1 – Sage Products Holdings III LLC is scheduled to hold a bank meeting at 10 a.m. ET on Wednesday to launch $380 million in incremental term loans, according to a market source.

Barclays and Deutsche Bank Securities Inc. are the bookrunners on the deal.

The debt consists of a fungible $315 million incremental first-lien term loan and a fungible $65 million incremental second-lien term loan, the source said.

Proceeds will be used to fund a shareholder distribution and pay related fees and expenses.

Madison Dearborn Partners is the sponsor.

Sage Products is a Cary, Ill.-based developer of products primarily for hospital intensive care units, which help prevent hospital-acquired conditions.

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