Invista to launch approximately $1.5 billion refinancing/repricing Wednesday

By Sara Rosenberg

New York, Sept. 14 - Invista is scheduled to launch an approximately $1.5 billion refinancing/repricing deal on Wednesday, according to a market source. JPMorgan and Deutsche Bank are the lead banks on the deal, with JPMorgan listed on the left.

Basically the company is looking to reprice its term loan A and term loan B, the source said, declining to comment on any further details of the transaction.

The company is also looking to "revise certain covenants to provide greater flexibility for the payment of dividends and other distributions," a company news release said.

Invista is a Wichita, Kan., integrated polymers, intermediates and fibers business

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