Olaplex launches $675 million term loan B at SOFR plus 375-400 bps

By Sara Rosenberg

New York, Feb. 8 – Olaplex Holdings Inc. launched on Tuesday its $675 million seven-year term loan B (B1/BB-) with price talk of SOFR plus 375 basis points to 400 bps with a 25 bps step-down at 0.5x inside closing date first-lien net leverage, a 0.5% floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA is the left lead arranger on the deal.

Commitments are due on Feb. 22, the source added.

Proceeds will be used to refinance the company’s existing capital structure.

Advent International is the sponsor.

Olaplex is a hair care company.

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