Laird to launch $883 million first-lien credit facilities on Thursday

By Sara Rosenberg

New York, April 17 – Laird plc is set to hold a bank meeting at 10 a.m. ET in New York on Thursday to launch $883 million of first-lien credit facilities, according to a market source.

Goldman Sachs Bank USA, Citigroup Global Markets Inc., Bank of America Merrill Lynch, HSBC Securities (USA) Inc., Lloyds and NatWest are the leads on the deal.

The facilities consist of a $133 million revolver and a $750 million first-lien term loan, the source said.

The company is also getting a $143 million privately placed second-lien term loan.

Proceeds will be used to help fund the buyout of the company by Advent International Corp. for 200 pence in cash per share. The transaction values the entire issued ordinary share capital of Laird at approximately £1 billion on a fully diluted basis.

Closing is expected in the third quarter, subject to stockholder and regulatory approvals.

Laird is a London-based provider of products and technology solutions used in network infrastructure, wireless connectivity, displays and industrial controls.

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