Ortho-Clinical Diagnostics wraps term B loan at Euribor plus 350 bps at par

By Paul A. Harris

Portland, Ore., Jan. 17 – Ortho-Clinical Diagnostics finalized pricing on its €337 million senior secured term loan B with a 350 basis points spread to Euribor at par, according to a market source.

The deal was set to allocate on Friday.

The spread comes inside of the Euribor plus 375 bps to 400 bps talk.

Discount talk was 99.5, widened from earlier talk of 99 to 99.5.

The term loan B still has a 0% floor.

Barclays was the left lead arranger on the deal and the administrative agent.

Proceeds will be used to refinance existing debt.

Ortho-Clinical Diagnostics is a Raritan, N.J.-based provider of in-vitro diagnostics solutions for screening, diagnosing and monitoring diseases.

© 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.