Univar Solutions term loans gain ground on buyout news; RelaDyne discloses price talk

By Sara Rosenberg

New York, March 14 – In the secondary market on Tuesday, Univar Solutions Inc.’s term loans headed higher following news that the company is being acquired by Apollo.

Univar’s 2026 and 2028 term loans strengthened to 99¾ bid, par ¼ offered on Tuesday from 99¼ bid, par offered on Monday after the company disclosed it is being purchased by Apollo, a trader said.

A commitment for $3.5 billion of new senior secured credit facilities – split between a $1.4 billion asset-based revolver and a $2.1 billion term loan – and a $2 billion senior secured bridge loan have been obtained to help fund the buyout.

Along with the debt, $3.8 billion of equity, which includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority, will be used for the transaction.

Meanwhile, in the primary market, RelaDyne Inc. released price talk on its add-on first-lien term loan B-2 in connection with its lender call.

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