Caldic to launch €950 million equivalent U.S. and euro loan Wednesday

By Sara Rosenberg

New York, Jan. 25 – Caldic BV is set to hold a lender call at 9 a.m. ET on Wednesday to launch a €950 million equivalent U.S. and euro seven-year covenant-lite term loan B, according to a market source.

Goldman Sachs is an active bookrunner on the U.S. term loan. Joint active bookrunners on the euro term loan are BNP Paribas Securities Corp., RBC Capital Markets and UBS Investment Bank. Joint passive bookrunners are Credit Suisse, Morgan Stanley Senior Funding Inc., Barclays, Jefferies LLC, ABN Amro, ING and KKR Capital Markets.

The indicative split of the term loan is about 60% euro and about 40% U.S., the source said.

The U.S. term loan has a 0.5% SOFR floor and amortization of 1% per annum, and the euro term loan has a 0% floor and no amortization.

Included in the term loan debt is 101 soft call protection for six months.

Commitments are due at 5 p.m. ET on Feb. 3, the source added.

Proceeds will be used to help fund the buyout of the company by Advent International from Goldman Sachs Asset Management, to refinance existing debt and for general corporate purposes.

Closing is expected in the first half of this year, subject to customary conditions and regulatory approvals.

Caldic is a Netherlands-based provider of life sciences and specialty industrial solutions.

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