Jadex launches $510 million credit facilities to investors

By Sara Rosenberg

New York, Feb. 1 – Jadex Inc. was scheduled to hold a lender call at 3 p.m. ET on Monday to launch $510 million of credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC is the left lead arranger on the deal.

The facilities consist of a $60 million revolver and a $450 million seven-year covenant-lite first-lien term loan, the source said.

Price talk on the term loan is Libor plus 450 basis points to 475 bps with a 0.75% Libor floor and an original issue discount of 99.

The term loan has 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Feb. 11, the source added.

Proceeds will be used to refinance an existing term loan and fund a shareholder distribution.

Jadex, formerly known as Process Solutions, is a Greer, S.C.-based advanced manufacturing and materials sciences company.

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