Zodiac Pool to launch $519 million first-lien term loan on Thursday

By Sara Rosenberg

New York, May 17 – Zodiac Pool Solutions LLC is scheduled to hold a lender call at 1 p.m. ET on Thursday to launch a $519 million covenant-light first-lien term loan (B3/B) due Dec. 20, 2023, according to a market source.

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

Price talk on the term loan is Libor plus 350 basis points to 375 bps with a 1% Libor floor and a par issue price, the source said.

The term loan includes 101 soft call protection for six months.

Proceeds will be used to reprice an existing first-lien term loan from Libor plus 450 bps with a 1% Libor floor.

Commitments are due at 5 p.m. ET on May 24, the source added.

Zodiac Pool is a Paris-based manufacturer of residential pool equipment and automation 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.