Osmose Holdings launches $355 million of term loans with OID of 99

By Sara Rosenberg

New York, Nov. 7 - Osmose Holdings Inc. launched on Wednesday its $315 million six-year first-lien covenant-light term loan and $40 million delayed-draw for three months term loan with an original issue discount of 99, according to a market source.

As previously reported, price talk on the term loans is Libor plus 550 basis points with a 1.25% Libor floor. The loans have 101 soft call protection for one year.

The company's $400 million credit facility also includes a $45 million five-year revolver.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt, to fund a dividend and to finance an acquisition.

Osmose is a Buffalo, N.Y.-based provider of wood preservation technology as well as utility and railroad asset management.

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