Atotech launches $1.4 billion term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, Jan. 12 – Atotech BV launched on Thursday its $1.4 billion senior secured term loan B with price talk of Libor plus 350 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

The company’s $1.65 billion credit facility also includes a $250 million revolver.

Barclays, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, HSBC Securities (USA) Inc., Nomura, RBC Capital Markets LLC and Bank of China are the bookrunners on the deal.

Commitments are due at noon ET on Jan. 25, the source added.

Proceeds will be used with equity to fund the buyout of the company by the Carlyle Group from Total for $3.2 billion.

Closing is subject to approval by the relevant antitrust authorities.

Atotech is a manufacturer of specialty plating chemicals and equipment.

© 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.