Element Solutions talks $744.4 million term B at Libor plus 175 bps

By Sara Rosenberg

New York, Nov. 18 – Element Solutions Inc. launched on Monday its $744.4 million first-lien term loan B (Ba2/BB) due Jan. 31, 2026 with price talk of Libor plus 175 basis points with a 0% Libor floor and an original issue discount of 99.75 to par, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Barclays and Credit Suisse Securities (USA) LLC are the bookrunners on the deal. Barclays is the administrative agent.

Commitments are due at 10 a.m. ET on Friday, the source added.

Proceeds will be used to refinance/reprice an existing term loan B that is priced at Libor plus 225 bps.

Net senior secured leverage is 1.3x, and net total leverage is 3.3x.

Element Solutions is a Fort Lauderdale, Fla.-based provider of specialty chemical solutions.

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