Osmose Holdings to launch $260 million credit facility on Thursday

By Sara Rosenberg

New York, July 9 – Osmose Holdings Inc. is set to hold a call at 10:30 a.m. ET on Thursday to launch a $260 million credit facility, according to a market source.

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

The facility consists of a $25 million revolver and a $235 million seven-year first-lien covenant-light term loan, the source said.

Price talk on the term loan is Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99, the source continued.

The term loan has 101 soft call protection for six months.

Proceeds will be used to refinance existing debt.

Commitments are due on July 17, the source added.

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

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