Knowlton Development to launch $525 million term loan on Nov. 27

By Sara Rosenberg

New York, Nov. 20 – Knowlton Development Corp. is scheduled to hold a bank meeting at 10 a.m. ET in New York on Nov. 27 to launch its $525 million first-lien term loan, according to a market source.

UBS Investment Bank, Guggenheim and Jefferies LLC are the lead arrangers on the deal.

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

Initially, the company was also expected to get a $160 million second-lien term loan, but that loan was replaced by equity due to oversubscription on the equity side, the source added.

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

© 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.