Culligan sets Tuesday lender call for $709 million term loan add-on

By Paul A. Harris

Portland, Ore., Feb. 26 – Arrangers plan to hold a lender call at 2 p.m. ET Tuesday to launch transactions related to $713,137,500 of Culligan bank debt, according to a market source.

The deal includes a $72 million add-on to the AI Aqua Merger Sub, Inc. senior secured term loan B-1, as well as a repricing of $344,137,500 of the AI Aqua Merger Sub senior secured term loan B and a repricing of $297 million of the AI Aqua Merger Sub senior secured term loan B-1.

Morgan Stanley Senior Funding, Inc., Royal Bank of Canada, BMO Capital Markets Corp. and Citigroup Global Markets Inc. are the arrangers.

The proceeds from the add-on will be used to finance the acquisition of Paragon Water Systems.

AI Aqua Merger Sub does business as Culligan, a Rosemont, Ill.-based provider of water treatment products and services.

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