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Celestica launches $350 million term loan B at Libor plus 225 bps
By Sara Rosenberg
New York, Nov. 1 – Celestica Inc. launched on Thursday its $350 million non-fungible covenant-light term loan B (Ba1/BB) due June 27, 2025 with price talk of Libor plus 225 basis points with an original issue discount of 99 to 99.5, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
Bank of America Merrill Lynch and Citigroup Global Markets Inc. are the lead arrangers on the deal.
Commitments are due at 5 p.m. ET on Nov. 8, the source added.
Proceeds will be used to fund the acquisition of Impakt Holdings LLC for $329 million from Graycliff Partners, to pay related fees and expenses and for general corporate purposes.
Closing is expected this quarter, subject to regulatory approvals and other customary conditions.
Celestica is a Toronto-based designer and manufacturer of electronic components. Impakt is a Santa Clara, Calif.-based provider of manufacturing solutions for the display, semiconductor, solar and other capital equipment industries.
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