Atotech firms $200 million add-on term loan B at par issue price

By Sara Rosenberg

New York, May 24 – Atotech BV set the issue price on its $200 million add-on term loan B (B1/B) due Jan. 31, 2024 at par, the tight end of the 99.75 to par talk, according to a market source.

Pricing on the loan remained at Libor plus 300 basis points with a 1% Libor floor.

Barclays and J.P. Morgan Securities LLC are the bookrunners on the deal.

Proceeds will be used to help fund a distribution to shareholders and to pay related fees and expenses.

Other funds for the transaction will come from $300 million of five-year senior PIK toggle notes.

Atotech is a Berlin-based manufacturer of specialty plating chemicals and equipment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.