Ontic readies launch of $1.38 billion term loan B for Monday

By Sara Rosenberg

New York, May 3 – Ontic (Bleriot US Bidco Inc.) will hold a lender call at noon ET on Monday to launch a $1.375 billion covenant-lite first-lien term loan B due October 2028 (B2/B), according to a market source.

Nomura Securities, Barclays, Citigroup Global Markets Inc., CVC, KKR Capital Markets and Macquarie Capital (USA) Inc. are the arrangers on the deal. Nomura is the administrative agent.

Proceeds will be used to reprice an existing $950 million first-lien term loan B due October 2028 from SOFR+CSA plus 400 bps with a 0% floor, to help fund the acquisition of Ontic by an investor group led by CVC Fund VIII and to pay fees and expenses.

The company is also getting a $125 million revolving credit facility due July 2028, upsized from an existing size of $85 million, the source added.

Ontic is a United Kingdom-based provider of OEM-licensed parts and aftermarket services for mature aerospace and defense platforms.

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