Owens & Minor launches $500 million term B at Libor plus 350-375 bps

By Sara Rosenberg

New York, April 18 – Owens & Minor Inc. launched on Wednesday its $500 million seven-year covenant-light term loan B (B1/BB) with price talk of Libor plus 350 basis points to 375 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

Bank of America Merrill Lynch, Wells Fargo Securities LLC, J.P. Morgan Securities LLC and SunTrust Robinson Humphrey Inc. are the arrangers on the deal. Co-managers include MUFG, PNC and US Bank.

Commitments are due at noon ET on May 1, the source added.

Proceeds will be used with a new term loan A to fund the acquisition of the surgical and infection prevention business of Halyard Health Inc.

Owens & Minor is a Mechanicsville, Va.-based health care solutions company.

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