Axalta Coating to launch U.S. and euro term loan repricing on Thursday

By Sara Rosenberg

New York, Jan. 8 - Axalta Coating Systems (previously known as DuPont Performance Coatings) is scheduled to hold a call at 9 a.m. ET on Thursday to launch a repricing of its $2,283,000,000 covenant-light term loan due Feb. 1, 2020 and its €397 million covenant-light term loan due Feb. 1, 2020, according to a market source.

Current U.S. term loan pricing is Libor plus 350 basis points with a 1.25% Libor floor, and current euro term loan pricing is Euribor plus 400 bps with a 1.25% floor.

Barclays, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley Senior Funding Inc., UBS Securities LLC, Jeffries Finance LLC and SMBC are the bookrunners on the deal.

Axalta is a Wilmington, Del.-based supplier of vehicle and industrial coating systems.

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