Knowlton Development plans to launch new loans in next few weeks

By Sara Rosenberg

New York, Nov. 6 – Knowlton Development Corp. expects to come to market in the next few weeks with $685 million of first- and second-lien term loans, according to a market source.

The bank meeting to launch the transaction will likely occur in November, right after the Thanksgiving holiday, the source said.

UBS Investment Bank is the left lead arranger on the deal.

The debt is split between a $525 million first-lien term loan and a $160 million second-lien term loan, the source added.

Proceeds will be used to help fund the buyout of the company by Cornell Capital.

Knowlton Development is a Quebec-based manufacturer of health and beauty-care products.

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