Nexeo Solutions to launch $150 to $200 million term loan on Thursday

By Sara Rosenberg

New York, Oct. 3 - Nexeo Solutions LLC is set to hold a call at 11 a.m. ET on Thursday to launch a $150 million to $200 million incremental term loan due Sept. 9, 2017 will have pricing in line with the existing term loan B, according to a market source.

The existing loan closed in 2011 at Libor plus 350 basis points with a 1.5% Libor floor.

Bank of America Merrill Lynch, Barclays, Citigroup Global Markets Inc. and Deutsche Bank Securities Inc. are leading the deal.

Proceeds will be used to pay down ABL revolver borrowings and for general corporate purposes.

Commitments will be due by noon ET on Oct. 10.

Nexeo is a distributor of chemicals, plastics and composites. The company is based in the Woodlands, Texas.

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