Draslovka readies launch of $335 million term loan B for Wednesday

By Sara Rosenberg

New York, Oct. 12 – Draslovka Holding (Manchester Acquisition Sub LLC) will hold a lender call at 11 a.m. ET on Wednesday to launch a $335 million seven-year term loan B (B), according to a market source.

JPMorgan Chase Bank is the lead on the deal and the administrative agent.

Price talk on the term loan is SOFR plus 10 basis points CSA plus 525 bps to 550 bps spread with a 0.75% SOFR+CSA floor and an original issue discount of 98, the source said. The floor applies to SOFR plus 10 bps.

The term loan has 101 soft call protection for one year.

Commitments are due at 5 p.m. ET on Oct. 28, the source added.

Proceeds will be used to help fund the acquisition of the Mining Solutions business of Chemours Co. for a total consideration of $520 million.

Closing is expected in the fourth quarter, subject to regulatory approvals and other customary conditions.

Draslovka is a Czech-based specialty chemicals company focused on applications for gold, agriculture, electronics and other industries.

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