Messer Industries to launch $2.85 billion equivalent loans Monday

By Sara Rosenberg

New York, Sept. 13 – Messer Industries is set to hold a bank meeting at 10 a.m. ET in New York on Monday to launch $2.85 billion equivalent of first-lien term loans, according to a market source.

The debt consists of a $2,225,000,000 first-lien term loan and a $625 million equivalent euro-denominated first-lien term loan, the source said.

Goldman Sachs Bank USA is the lead bookrunner on the U.S. tranche, and UBS Investment Bank and Citigroup Global Markets Inc. are the lead bookrunners on the euro tranche. Managing lead arrangers are Goldman Sachs, UBS, Citigroup, ING, UniCredit, BNP Paribas, Deutsche Bank, Mizuho, Bayern LB and Helaba.

Proceeds will be used to fund the acquisition by Messer Group and CVC Capital Partners of Linde AG’s gases business in North and South America for $3.3 billion.

Messer Industries is a new company formed by Linde North America’s gas assets and Messer Group’s Western European assets. The company will be owned 58% by Messer Group and 42% by CVC.

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