Archroma to launch $95 million equivalent euro add-on loan Wednesday

By Sara Rosenberg

New York, Oct. 29 – Archroma is scheduled to hold a lender call at 12:30 p.m. ET on Wednesday to launch a fungible $95 million equivalent euro add-on covenant-lite term loan B, according to a market source.

HSBC is the physical bookrunner on the deal, and BofA Securities Inc. is a bookrunner.

Pricing on the add-on term loan is Euribor plus 375 basis points with a 0% floor, in line with existing term loan B pricing.

Original issue discount talk on the add-on term loan will be announced on the call, the source said.

The add-on term loan is getting 101 soft call protection for six months.

Proceeds will be used to partially repay an existing second-lien term loan.

Lenders are being offered a 25 bps consent fee, the source added.

Commitments are due at 10 a.m. ET on Nov. 6.

SK Capital is the sponsor.

Archroma is a Switzerland-based provider of specialty chemicals for the textile, paper and emulsions sectors.

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