Diversey launches $1.5 billion term loan B at Libor plus 275-300 bps

Chicago, Sept. 8 – Diamond (BC) BV (Diversey Holdings, Ltd.) held a lender call on Wednesday to launch a $1.5 billion seven-year term loan B (Ba3/B), a market source reported.

Interest is being talked at Libor plus 275 basis points to 300 bps with a 0.5% Libor floor.

The original issue discount is at 99.5.

J.P. Morgan is leading the transaction.

The refinancing deal is part of a broader refinancing for the company.

Proceeds will be used to repay the company’s existing term loan facilities.

Separately, the company will also be issuing new notes to redeem all the outstanding 5 5/8% notes due 2025.

Diversey is a hygiene and cleaning solutions company with Fort Mill, S.C., headquarters.

© 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.