Univar restates $1.6 billion ABL facility, $200 million term loan

Chicago, Oct. 31 – Univar Inc. amended and restated its credit agreement on Oct. 27 with Bank of America as administrative agent, according to an 8-K filing with the Securities and Exchange Commission.

The amendment provides for a five-year senior secured ABL credit facility for $1.6 billion and a five-year senior secured term loan facility for $200 million.

The ABL term loan facility will have interest at SOFR plus 175 basis points, with a 25 bps step-down for a lesser leverage level.

Revolving loans on the ABL facility will be SOFR plus 112.5 bps, 125 bps or 137.5 bps, based on availability.

The unused line fee is 25 bps.

The maximum amount available on the ABL facility will be determined by a borrowing base consisting of eligible inventory, eligible accounts receivable and cash of Univar and certain of its subsidiaries.

BofA Securities, Wells Fargo Bank NA, JPMorgan Chase Bank, NA, Deutsche Bank Securities Inc. and Goldman Sachs Bank USA are the joint lead arrangers and joint bookrunners.

The co-syndication agents are Wells Fargo Bank NA, JPMorgan Chase Bank, NA, Deutsche Bank Securities Inc. and Goldman Sachs Bank USA.

The co-documentation agents are BMO Capital Markets Corp., NYCB Specialty Finance Co., LLC and TD Bank, NA.

Univar is a Downers Grove, Ill.-based specialty chemical, ingredient and solutions provider.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.