Wilsonart launches $1.24 billion term loan E at Libor plus 325 bps

By Sara Rosenberg

New York, March 12 – Wilsonart LLC launched on Friday its $1.241 billion covenant-lite term loan E due December 2026 with price talk of Libor plus 325 basis points with a 0.75% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months.

Deutsche Bank Securities Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Morgan Stanley Senior Funding Inc., UBS Investment Bank, Goldman Sachs Bank USA, Barclays and SMBC are the bookrunners on the deal. Deutsche is the administrative agent.

Commitments are due at 5 p.m. ET on March 18.

Proceeds will be used to amend and extend an existing term loan D due December 2023.

Wilsonart is a Temple, Tex.-based engineered surfaces company.

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