Arclin launches $478 million term loan repricing, $40 million add on

New York, Jan. 23 – Arclin launched a repricing of its $478 million term loan due February 2024 (B2/B+) and a $40 million incremental term loan (B2/B+) with a lender call on Tuesday, according to a market source.

Talk on the loans is Libor plus 350 basis points to 375 bps.

The repriced term loan is being offered at par while the incremental loan, which has the same maturity, is offered at 99.75.

Both have a 1% Libor floor and 101 soft call protection for six months.

The borrower is New Arclin U.S. Holding Corp.

Credit Suisse is the lead on the deal.

Commitments are due on Jan. 30.

Proceeds from the incremental loan will be used to repay part of the company’s second-lien term loan.

The repricing will reduce the coupon from Libor plus 425 bps at present.

Arclin is an Atlanta-based provider of surface overlay solutions and performance resins.

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