Oxea sets London and New York launches for U.S., euro credit facility

By Sara Rosenberg

New York, May 14 - Oxea will host a bank meeting in London on Friday and at 10 a.m. ET in New York on May 21 to launch $1,048,000,000 in U.S. first- and second-lien term loans, a €350 million 61/2-year first-lien term loan and an up to €120 million revolver, according to a market source.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Morgan Stanley Senior Funding Inc. and Nomura are the lead banks on the covenant-light deal, with Deutsche the left lead on the first-lien debt and JPMorgan the left lead on the second-lien loan.

The U.S. debt is comprised of a $720.5 million 61/2-year first-lien term loan and a $327.5 million seven-year second-lien term loan, the source said.

Included in the U.S. and euro first-lien term loans is 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two.

Proceeds will be used to refinance existing debt and pay a dividend to Advent International.

Oxea is a Luxembourg-based chemical company.

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