Domtar Personal launches $620 million loan at Libor plus 450-475 bps

By Sara Rosenberg

New York, Feb. 9 – Domtar Personal Care launched on Tuesday its $620 million seven-year covenant-lite first-lien term loan with price talk of Libor plus 450 basis points to 475 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

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

Deutsche Bank Securities Inc., Barclays, BNP Paribas Securities Corp., RBC Capital Markets and CIBC are the bookrunners on the deal.

Commitments are due at 5 p.m. ET on Feb. 18.

Proceeds will be used to help fund the buyout of the company by American Industrial Partners from Domtar Corp. for $920 million.

Closing is expected this quarter, subject to receipt of regulatory approvals and other customary conditions.

Domtar Personal Care is a manufacturer and distributor of personal care products.

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