Solenis revises $300 million incremental term loan B OID to 98

By Sara Rosenberg

New York, March 31 – Solenis changed the original issue discount on its $300 million incremental term loan B due November 2028 (B2/B-) to 98 from talk in the range of 97 to 97.5, according to a market source.

Pricing on the incremental term loan remained at SOFR+10 basis points CSA plus 450 bps with a 0.5% floor.

The incremental term loan still has 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs and BofA Securities Inc. are the lead arrangers on the deal.

Proceeds will be used to pay down ABL borrowings and to add cash to balance sheet for general corporate purposes.

Platinum Equity is the sponsor.

Solenis is a Wilmington, Del.-based manufacturer and distributor of specialty chemicals and solutions for water-intensive industries and pools.

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