Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Archroma > News item |
Archroma launches U.S. and euro first-lien term loans at 99.5 OID
By Sara Rosenberg
New York, June 27 – Archroma released original issue discount talk of 99.5 on its $225 million first-lien term loan B-2 and €455 million first-lien term loan B-1 in connection with its lender meeting on Tuesday, according to a market source.
Price talk on the term loans is Libor/Euribor plus 425 basis points to 450 bps with a 0% floor.
Both term loans have 101 soft call protection for six months.
The company’s credit facilities also include a $200 million eight-year second-lien term loan that was privately placed.
Bank of America Merrill Lynch and HSBC are the leads on the deal, with Bank of America the left lead on the U.S. first-lien term loan and HSBC the left lead on the euro first-lien term loan and the second-lien term loan.
Commitments are due on July 7, the source added.
Proceeds will be used to refinance existing debt.
Archroma is a Switzerland-based provider of specialty chemicals for the textile, paper and emulsions sectors.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.