H.B. Fuller finalizes $2.14 billion term B at Libor plus 200 bps

By Sara Rosenberg

New York, April 13 – H.B. Fuller Co. firmed pricing on its $2,139,250,000 senior secured covenant-light term loan B due Oct. 20, 2024 at Libor plus 200 basis points, the high end of the Libor plus 175 bps to 200 bps talk, according to a market source.

As before, the term loan has a 0% Libor floor, a par issue price and 101 soft call protection for six months.

Morgan Stanley Senior Funding Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC are the joint lead arrangers and bookrunners on the deal.

Proceeds will be used to reprice an existing term loan B due 2024 from Libor plus 225 bps with a 0% Libor floor.

H.B. Fuller is a St. Paul, Minn.-based industrial adhesives, sealants, coatings and specialty materials company.

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