J.T. Baker launches $145 million credit facility led by Credit Suisse

By Sara Rosenberg

New York, Sept. 20 - J.T. Baker Holdings SA held a bank meeting on Monday to launch its proposed $145 million credit facility (Ba3), according to a market source.

Credit Suisse is the lead bank on the deal.

The facility consists of a $125 million term loan talked at Libor plus 500 basis points with a 1.75% Libor floor and an original issue discount of 98 as well as a $20 million revolver.

Proceeds will be used to back the already completed acquisition of Mallinckrodt Baker Inc. by New Mountain Capital LLC from Covidien for about $280 million.

J.T. Baker is a Phillipsburg, N.J.-based specialty chemical manufacturer.

© 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.