Wilsonart to launch $1.19 billion term loan B on Thursday morning

By Sara Rosenberg

New York, Aug. 2 – Wilsonart LLC will hold a lender call at 9:30 a.m. ET on Thursday to launch a $1,194,000,000 covenant-light term loan B due December 2023, according to a market source.

Deutsche Bank Securities Inc. is the left lead arranger on the deal.

Price talk on the term loan is Libor plus 300 basis points with a 1% Libor floor and a par issue price, the source said.

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

Proceeds will be used to reprice an existing term loan B down from Libor plus 350 bps with a 1% Libor floor.

Commitments are due at noon ET on Aug. 10, the source added.

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

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