Perimeter Solutions enters into $100 million five-year revolver

Chicago, Nov. 10 – SK Invictus Intermediate II Sarl (Perimeter Solutions) signed a new $100 million senior secured revolving credit facility with a five-year tenor on Nov. 9, according to an 8-K filing with the Securities and Exchange Commission.

With a Nov. 9, 2026 maturity date, the facility includes a $20 million swingline sub-facility and a $25 million letter-of-credit sub-facility.

The amount that can be borrowed can be increased up to the lesser of $143 million and 100% of consolidated EBITDA for the most recent four-quarter period.

Interest will be Libor plus 325 basis points with a 0% Libor floor.

There are two 25 bps step downs based on the achievement of certain leverage ratios.

There is a commitment fee of 50 bps for the unused portion of the credit facility, also possibly subject to two 12.5 bps step downs based on the company’s leverage ratio.

Morgan Stanley Senior Funding, Inc. is the administrative agent.

Joint lead arrangers and bookrunning managers are Morgan Stanley, Barclays and Goldman Sachs Bank USA.

SK Invictus, or Perimeter Solutions, is a global manufacturer of firefighting products and lubricant additives.

The company is being acquired by EverArc Escrow Sarl, an acquisition company.

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