Zest Holdings launches $160 million term loan B at Libor plus 425 bps

By Sara Rosenberg

New York, July 22 – Zest Holdings LLC launched on Tuesday its $160 million first-lien term loan B due August 2020 with price talk of Libor plus 425 basis points with a 1% Libor floor and an original issue discount of 99½ to 99¾, according to a market source.

The loan has 101 soft call protection for six months and a net senior secured leverage ratio, the source said.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Proceeds will be used to reprice an existing term loan B from Libor plus 550 bps with a 1% Libor floor.

Commitments are due at noon ET on Aug. 1.

Zest is an Escondido, Calif.-based manufacturer and distributor of overdenture attachment systems to the dental industry.

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