Kohler Energy releases talk on $1.625 billion equivalent term loan B

By Sara Rosenberg

New York, Jan. 16 – Kohler Energy (Discovery Energy Holding Corp.) launched on Tuesday its $1.625 billion equivalent seven-year U.S. and euro term loan B (B1) with price talk of SOFR/Euribor plus 375 basis points to 400 bps with a 0% floor and an original issue discount of 98, according to a market source.

The term loan has 101 soft call protection for six months.

BofA Securities Inc., Goldman Sachs Bank USA, BMO Capital Markets, Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., Mizuho, Nomura, Santander, Stifel and UBS Investment Bank are the arrangers on the deal.

Commitments are due at noon ET on Jan. 25, the source added.

Proceeds will be used to help fund the acquisition of a majority stake in Kohler Co.’s energy division by Platinum Equity. Kohler will continue to stay invested in the energy business following completion of the transaction.

Closing is expected in the first half of this year.

Kohler Energy is a provider of mission critical power solutions to homes, businesses and equipment.

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