MJH Life Sciences shops $650 million term B at SOFR plus 400-425 bps

By Sara Rosenberg

New York, Jan. 11 – MJH Life Sciences is talking its $650 million seven-year term loan B (B-) at SOFR+CSA plus 400 basis points to 425 bps with a 0.5% floor and an original issue discount of 99 to 99.5, according to a market source.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate, the source said.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

BofA Securities Inc. and PNC Bank are the leads on the deal that launched with a call on Monday.

Commitments are due at 5 p.m. ET on Jan. 24.

Proceeds will be used to help fund the acquisition of a majority interest in the company by BDT Capital Partners LLC. The Hennessy Family, who founded the company, will continue to hold a significant minority ownership position.

MJH Life Sciences is a Cranbury, N.J.-based medical media company.

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