Arysta LifeScience reveals first- and second-lien term loan talk

By Sara Rosenberg

New York, May 9 - Arysta LifeScience Corp. disclosed price talk on its $1.1 billion seven-year first-lien term loan and $555 million 71/2-year second-lien term loan with its Thursday morning bank meeting, according to a market source.

The first-lien term loan is talked at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 991/2, and the second-lien term loan is talked in the Libor plus 750 bps area with a 1.25% Libor floor and a discount of 98, the source said.

Included in the first-lien term loan is 101 soft call protection for one year, and the second-lien term loan has hard call protection of 103 in year one, 102 in year two and 101 in year three.

The $1.805 billion credit facility also provides for a $150 million five-year revolver.

J.P. Morgan Securities LLC is the left lead on the deal.

Proceeds will be used to refinance existing debt.

Arysta LifeScience is a Tokyo-based crop protection and life science company.

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