Dynacast to launch $530 million first-lien loan repricing on Monday

By Sara Rosenberg

New York, May 8 – Dynacast International will hold a lender call on Monday to launch a repricing of its $530 million first-lien term loan due January 2022, according to a market source.

J.P. Morgan Securities LLC and Barclays are the lead banks on the deal.

The repricing is talked at Libor plus 325 basis points to 350 bps with a 1% Libor floor and an original issue discount of 99.75, the source said.

Included in the repriced loan is 101 soft call protection for six months.

With this transaction, the first-lien term loan pricing is being taken down from Libor plus 425 bps with a 1% Libor floor.

Existing lenders will be taken out at 101 due to the presence of call protection.

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

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