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Dynacast launches $280 million add-on first-lien loan at 99.75-par OID
By Sara Rosenberg
New York, March 2 – Dynacast International launched on Thursday its $280 million add-on first-lien term loan with price talk of Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99.75 to par, according to a market source.
J.P. Morgan Securities LLC, Barclays and Macquarie Capital (USA) Inc. are the leads on the deal.
Proceeds will be used to help fund the acquisition of Signicast LLC.
Closing is expected late this month, subject to regulatory approvals and customary conditions.
Dynacast is a Charlotte, N.C.-based manufacturer of precision engineered metal components. Signicast is a Hartford, Wis.-based manufacturer of precision investment cast parts.
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