Ontic readies launch of $551 million term loan for Wednesday

By Sara Rosenberg

New York, Feb. 2 – Ontic (Bleriot US Bidco Inc.) is scheduled to hold a lender call at 11 a.m. ET on Wednesday to launch a $551 million covenant-lite first-lien term loan due October 2026, according to a market source.

Nomura Securities is the arranger on the deal.

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

Proceeds will be used to reprice an existing term loan.

Ontic is a provider of OEM-licensed parts and aftermarket services for mature aerospace and defense platforms.

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