Hunter Douglas sets talk on $3.1 billion, €1.35 billion term loans

By Sara Rosenberg

New York, Jan. 27 – Hunter Douglas released price talk on its $3.1 billion seven-year term loan B and €1.35 billion seven-year term loan B with its lender call on Thursday, according to a market source.

Talk on the U.S. term loan is SOFR plus 350 basis points to 375 bps with a 0.5% floor and an original issue discount of 99.5, and talk on the euro term loan is Euribor plus 375 bps to 400 bps with a 0% floor and a discount of 99.5, the source said.

The term loans (B1/B+) have 101 soft call protection for six months.

JPMorgan Chase Bank and Morgan Stanley Senior Funding Inc. are joint lead arrangers on the deal and bookrunners with BofA Securities Inc., Barclays, BNP Paribas Securities Corp., MUFG, Rabobank, Goldman Sachs, Credit Suisse and ING.

Commitments are due at 5 p.m. ET on Feb. 8 for the U.S. loan and at noon ET on Feb. 8 for the euro loan.

Proceeds will be used to help fund the buyout of the company by 3G Capital for €175 per ordinary share, implying an enterprise value of about $7.1 billion. The Sonnenberg family will continue to hold a 25% interest in the company.

Closing is expected this quarter, subject to limited conditions.

Hunter Douglas is a Rotterdam, The Netherlands-based manufacturer of window coverings and architectural products.

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