Vantage Specialty to launch $125 million in term loans on Thursday

By Sara Rosenberg

New York, July 20 – Vantage Specialty Chemicals is scheduled to hold a lender call at 2 p.m. ET on Thursday to launch $125 million in term loans, according to a market source.

RBC Capital Markets is the lead on the deal.

The debt consists of a fungible $85 million add-on first-lien term loan and a $40 million second-lien term loan, the source said.

Proceeds will be used to fund the acquisition of Mallet and Co. Inc. from ICV Partners.

In connection with the acquisition, Vantage is amending and extending the maturity of its existing revolver to August 2019 and first-lien term loan to February 2021, the source added.

Vantage, a portfolio company of Jordan Co., is a Chicago-based provider of naturally derived specialty chemicals for personal care, industrial, consumer products & food industries. Mallet is a Carnegie, Pa.-based provider of baking release agents.

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