Sterigenics to launch $1.2 billion credit facility on Monday

By Sara Rosenberg

New York, April 23 – Sterigenics International Inc. will hold a bank meeting at 10 a.m. ET on Monday to launch a $1.2 billion credit facility, according to a market source.

J.P. Morgan Securities LLC is the lead bank on the debt.

The facility consists of a $150 million five-year revolver and a $1.05 billion seven-year term loan B, the source said.

Proceeds will be used to help fund the company’s recapitalization with Warburg Pincus and GTCR.

Closing is expected this quarter.

GTCR purchased Sterigenics in 2011.

Warburg Pincus’ portion of the equity for the recapitalization will come from Warburg Pincus Private Equity XI LP.

Sterigenics is an Oak Brook, Ill.-based provider of contract sterilization, gamma technologies and medical isotopes.

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