Dynacast readies launch of $700 million of term loans for Monday

By Sara Rosenberg

New York, Jan. 9 – Dynacast International is scheduled to hold a bank meeting at 11 a.m. ET on Monday to launch $700 million of new term loans, according to a market source.

J.P. Morgan Securities LLC, Barclays and Macquarie Capital are the leads on the deal.

The debt consists of a $530 million seven-year first-lien term loan and a $170 million eight-year second-lien term loan, the source said.

Proceeds will be used to help fund the buyout of the company by Partners Group.

The transaction has an overall enterprise value of $1.1 billion.

Partners Group is buying Dynacast from existing financial investors and is joined in the acquisition by Kenner & Co., an existing shareholder, and the company’s management team, which will both roll over significant equity stakes into the new transaction.

Closing is expected in February, subject to regulatory approvals and customary conditions.

Dynacast is a Charlotte, N.C.-based manufacturer of small, highly complex metal components.

© 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.