Archroma wraps syndication of €86 million add-on term loan B

By Sara Rosenberg

New York, Nov. 7 – Archroma allocated its fungible €86 million add-on covenant-lite term loan B, according to a market source.

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, and it was sold at an original issue discount of 99.25.

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

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

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

Lenders were offered a 25 bps consent fee.

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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