Milacron to repay term loan, ABL facility debt with stock proceeds

By Toni Weeks

San Luis Obispo, Calif., June 25 – Milacron Holdings Corp. said it will use the proceeds of a common stock offering to repay a portion of outstanding debt under its new $730 million senior secured term loan facility and, if any amounts are outstanding under its ABL facility at the completion of the stock offering, repay up to $15 million of that outstanding debt, according to a 424B4 filing with the Securities and Exchange Commission.

Proceeds from the new term loan, which was obtained on May 14 and matures on Sept. 28, 2020, were used on May 15 to repay in full $339.1 million principal amount of the company’s existing term loan facility and to redeem all $220 million principal amount of senior secured notes at 106.281% of par plus accrued interest.

Milacron is a Cincinnati-based provider of plastics processing technologies and industrial fluids.

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