K2 Pure Solutions to launch $115 million term loan on Wednesday

By Sara Rosenberg

New York, July 20 - K2 Pure Solutions is scheduled to hold a call on Wednesday to launch its proposed $115 million five-year term loan, according to a market source.

Credit Suisse and Canaccord Genuity are leading the deal, with Credit Suisse the left lead.

Price talk on the term loan is Libor plus 550 basis points with a 2% Libor floor and an original issue discount of 95, the source said.

The term loan is non-callable for one year, then at 102 in year two and 101 in year three.

Proceeds will be used to help fund the construction of a bleach plant in Pittsburg, Ca. The new plant will serve municipal water treatment markets in Northern California.

K2 Pure Solutions is a manufacturer of water purification and disinfection products.

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