Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Axalta Coating Systems U.S. Holdings Inc. > News item |
Axalta Coating launches $2 billion term loan B at SOFR plus 325 bps
By Sara Rosenberg
New York, Nov. 30 – Axalta Coating Systems Ltd. launched on Wednesday its $2 billion seven-year senior secured term loan B (Ba1) with price talk of SOFR plus 325 basis points with a 0.5% floor and an original issue discount of 97.5 to 98.5, according to a market source.
The term loan has 101 soft call protection for six months, amortization of 1% per annum and no CSA.
Barclays is the left lead bookrunner on the deal and the administrative agent.
Commitments are due at noon ET on Dec. 9, the source added.
Proceeds will be used with cash from the balance sheet to refinance the company’s existing $2.021 billion term loan B due June 2024 and to pay related fees and expenses.
The borrowers are Axalta Coating Systems U.S. Holdings Inc. and Axalta Coating Systems Dutch Holding BBV.
Axalta is a Glen Mills, Pa.-based coatings company focused on providing customers with innovative, colorful and sustainable solutions.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.