Atotech discloses talk on $1.35 billion, €200 million term loans

By Sara Rosenberg

New York, March 1 – Atotech Ltd. released price talk on its $1.35 billion seven-year first-lien term loan B (B1/B+) and €200 million seven-year first-lien term loan B (B1/B+) in connection with its Monday morning lender call, according to a market source.

The U.S. term loan is talked at Libor plus 275 basis points with a 0.5% Libor floor and an original issue discount of 99.5, and the euro term loan is talked at Euribor plus 275 bps to 300 bps with a 0% floor and a discount of 99 to 99.5, the source said.

Both term loans have 101 soft call protection for six months.

Goldman Sachs Bank USA, J.P. Morgan Securities LLC, Barclays, Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Unicredit, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Standard Chartered and TCG are the arrangers on the deal.

Commitments are due at noon ET on March 9, the source added.

Proceeds will be used to refinance an existing revolver and term loan B, add cash to balance sheet and pay related fees and expenses.

Atotech is a Berlin-based specialty chemicals technology company.

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