Cole-Parmer to launch $770 million first-lien term loan on Wednesday

By Sara Rosenberg

New York, Oct. 11 – Cole-Parmer Instrument Co. (Curie Merger Sub LLC) is scheduled to hold a bank meeting at noon ET on Wednesday to launch a $770 million seven-year first-lien term loan, according to a market source.

The company’s $1.09 billion equivalent of credit facilities also include a $75 million revolver and a $245 million equivalent eight-year second-lien term loan that has been privately placed, the source said.

Jefferies LLC is the left lead arranger on the deal.

Proceeds will be used to help fund the acquisition of a majority stake in the company by GTCR.

Closing is expected in the fourth quarter.

Upon closing, Golden Gate Capital and management will retain a significant minority stake in the company.

Cole-Parmer is a Vernon Hills, Ill.-based provider of fluid handling, test & measurement, environmental and biosciences instrumentation and associated consumables.

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