Ontic to launch up to $1.02 billion credit facilities on Monday

By Sara Rosenberg

New York, July 7 – Ontic (Bleriot US Bidco Inc.) is scheduled to hold a lender call at 11 a.m. ET on Monday to launch up to $1.022 billion of credit facilities, according to a market source.

Nomura Securities, Barclays, Macquarie Capital (USA) Inc. and KKR Capital Markets are the arrangers on the deal.

The facilities consist of an $85 million revolver due July 2028 and an up to $937 million covenant-lite first-lien term loan B due October 2028, inclusive of an incremental $100 million term loan, the source said.

The term loan has 101 soft call protection for six months.

Commitments are due at noon ET on July 19, the source added.

Proceeds will be used to extend an existing revolver from October 2024 and an existing term loan B from October 2026, and the incremental term loan will repay outstanding revolver borrowings and fund general corporate purposes.

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

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