DMT Solutions talks $260 million term loan at Libor plus 575-600 bps

By Sara Rosenberg

New York, June 4 – DMT Solutions Global Corp. launched on Monday its $260 million seven-year covenant-light first-lien term loan (B3/B-) with price talk of Libor plus 575 basis points to 600 bps with a 0% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for one year, the source said.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Goldman Sachs Bank USA and KeyBanc Capital Markets are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on June 14.

Proceeds will be used to help fund the buyout of the company by Platinum Equity from Pitney Bowes Inc. for $361 million.

Closing is expected in the second quarter or early in the third quarter, subject to customary conditions.

DMT is a provider of global enterprise solutions for mail inserting, parcel sorting and printing equipment and services.

© 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.