Axalta to get $420 million incremental term loans via Deutsche Bank

By Marisa Wong

Morgantown, W.Va., April 12 – Axalta Coating Systems Ltd. entered into a commitment letter with Deutsche Bank AG New York Branch for a $420 million senior secured incremental term loan facility, according to an 8-K filing with the Securities and Exchange Commission.

Axalta entered into the commitment letter on April 11 in connection with its planned acquisition of Valspar Corp.’s North American industrial wood coatings business for $420 million in cash.

Axalta is a Philadelphia-based manufacturer, marketer and distributor of coatings systems.

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