Wilsonart launches $160 million add-on term loan at OID of 97½ to 98

By Sara Rosenberg

New York, Oct. 28 - Wilsonart LLC launched on Monday its $160 million add-on term loan due October 2019 with original issue discount talk of 97½ to 98, according to sources.

Pricing on the add-on is Libor plus 300 basis points with a 1% Libor floor, in line with existing term loan pricing, sources said.

Deutsche Bank Securities Inc., Barclays, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and UBS Securities LLC are the lead banks on the deal.

Proceeds will be used to fund the acquisition of Durcon Inc., a Taylor, Texas-based manufacturer of laboratory-grade work surfaces.

Closing is expected in the fourth quarter.

Wilsonart is a Temple, Texas-based manufacturer and distributor of high-pressure laminates and other engineered surfaces used in furniture, office and retail space, countertops, worktops and other applications.

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