Husky Injection readies launch of $2 billion term loan B for Monday

By Sara Rosenberg

New York, March 7 – Husky Injection Molding Systems (Titan Acquisition Ltd.) will hold a bank meeting at 10 a.m. ET in New York on Monday to launch a $2 billion seven-year covenant-light term loan B, according to a market source.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Goldman Sachs Bank USA, Barclays and BMO Capital Markets are the bookrunners on the deal.

The term loan has a 0% Libor floor and 101 soft call protection for six months, the source said.

Commitments are due at 5 p.m. ET on March 15.

Proceeds will be used to help fund the buyout of the company by Platinum Equity from Berkshire Partners and Omers Private Equity for $3.85 billion.

Other funds for the transaction will come from $750 million of senior notes.

Closing is expected in the second quarter, subject to regulatory approval.

Husky is a Bolton, Ont.-based supplier of injection molding equipment and services to the plastics industry.

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