Hunter Douglas to launch $3.1 billion, €1.35 billion loans Thursday

By Sara Rosenberg

New York, Jan. 26 – Hunter Douglas is scheduled to hold a lender call at 10 a.m. ET on Thursday to launch a $3.1 billion seven-year term loan B and a €1.35 billion seven-year term loan B, according to a market source.

JPMorgan Chase Bank and Morgan Stanley Senior Funding Inc. are joint lead arrangers on the deal and bookrunners with BofA Securities Inc., Barclays, BNP Paribas Securities Corp., MUFG, Rabobank, Goldman Sachs, Credit Suisse and ING.

The term loans have 101 soft call protection for six months, the source said.

Commitments are due at 5 p.m. ET on Feb. 8 for the U.S. loan and at noon ET on Feb. 8 for the euro loan.

Proceeds will be used to help fund the buyout of the company by 3G Capital for €175 per ordinary share, implying an enterprise value of about $7.1 billion. The Sonnenberg family will continue to hold a 25% interest in the company.

Closing is expected this quarter, subject to limited conditions.

Hunter Douglas is a Rotterdam, The Netherlands-based manufacturer of window coverings and architectural products.

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