Solenis sets Thursday lender call for $1.4 billion equivalent loan

By Paul A. Harris

Portland, Ore., Sept. 7 – Solenis set a lender call for 4:30 p.m. ET on Thursday for a $1.4 billion equivalent term loan B backing the buyout of the company by Platinum Equity Advisors, according to a market source.

The loan will be syndicated in euro-denominated and dollar-denominated paper.

Goldman Sachs is the left arranger. BofA, Barclays, BMO, Deutsche Bank, Morgan Stanley, Nomura, HSBC, ING, Jefferies, Macquarie and RBC are the joint arrangers.

Proceeds plus $1.4 billion equivalent of secured notes and $1 billion equivalent of unsecured notes will be used to support the acquisition of Solenis by Platinum Equity and the subsequent merger with existing portfolio company Sigura Water.

Solenis, formerly Ashland Water Technologies, is a Wilmington, Del.-based manufacturer of specialty chemicals for the pulp, paper, oil and gas, chemical processing, mining, biorefining, power and municipal markets.

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