Linxens readies launch of $545 million term loan for Thursday

By Sara Rosenberg

New York, Feb. 1 – Linxens is scheduled to hold a lender call at noon ET on Thursday to launch a $545 million first-lien term loan due October 2022, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Price talk on the term loan is Libor plus 325 basis points to 350 bps with a step-down, 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 first-lien term loan from Libor plus 400 bps with a step-down and a 1% Libor floor.

Commitments are due at 5 p.m. ET on Feb. 9, the source added.

Linxens is a France-based designer and manufacturer of flexible connectors for smart cards.

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