Primient to launch $1.04 billion term loan B on Wednesday

By Sara Rosenberg

New York, Jan. 23 – Primient (Primary Products Finance LLC) is set to hold a lender call at 1 p.m. ET on Wednesday to launch a $1.044 billion first-lien term loan B due April 1, 2029 (B1/BB-/BB+), according to a market source.

Barclays is the left lead on the deal.

Price talk on the term loan is SOFR+CSA plus 350 basis points with a 0.5% floor and a par issue price, the source said.

CSA is 10 bps one-month rate, 15 bps three-month rate and 25 bps six-month rate.

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

Proceeds will be used to reprice an existing $1.044 billion first-lien term loan due April 2029 down from SOFR+CSA plus 400 bps with a 0.5% floor.

Primient is a Schaumberg, Ill.-based manufacturer of nutritive sweeteners, industrial starches, acidulants, and other corn-derived products predominantly for food and beverage, packaging and industrial applications.

© 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.