Unifrax discloses talk on $660 million-equivalent in term loans

By Sara Rosenberg

New York, March 21 – Unifrax released price talk on its $460 million U.S. seven-year senior secured term loan B and a $200 million-equivalent euro seven-year senior secured term loan B with its lender call on Tuesday, according to a market source.

The U.S. term loan is talked at Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.5, and the euro term loan is talked at Euribor plus 400 bps with a 0% floor and a discount of 99.5, the source said.

Both term loans have 101 soft call protection for six months and amortization of 1% per annum.

Goldman Sachs Bank USA, Bank of America Merrill Lynch, KeyBanc Capital Markets and ING are the leads on the deal (B2/B).

Commitments are due on March 29, the source added.

Proceeds will be used to refinance existing debt.

Unifrax is a Tonawanda, N.Y.-based specialty materials platform focused on providing innovative thermal management, filtration and energy solutions for a variety of end markets and applications.

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