Culligan to launch $100 million delayed-draw loan, repricing Tuesday

By Sara Rosenberg

New York, March 22 – Culligan Holding Inc. (AI Aqua Merger Sub Inc.) is set to hold a lender call at noon ET on Tuesday to launch a $100 million delayed-draw term loan and a repricing of its existing roughly $665 million first-lien term loan B due December 2023, according to a market source.

Morgan Stanley Senior Funding Inc. is the lead on the deal.

The repriced term loan and delayed-draw term loan will be fungible with the company’s existing $611 million term loan B-1 due 2023 that is priced at Libor plus 325 basis points. This transaction will create one $1.376 billion pro forma tranche.

Culligan is a Rosemont, Ill.-based provider of water treatment products and services.

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