Univar launches $975 million term loan B at Libor plus 300 bps, OID 99

By Sara Rosenberg

New York, Oct. 18 - Univar NV launched its $975 million term loan B (B2/B) to investors on Thursday with price talk of Libor plus 300 basis points and an original issue discount of 99, according to a market source.

Bank of America and Deutsche Bank are the lead banks on the deal, with Bank of America the left lead.

The term loan B is part of a $2.35 billion credit facility that also includes a $1 billion asset-based revolver talked at Libor plus 150 bps, a $100 million first-in, last-out asset-based term loan talked at Libor plus 275 bps and a $275 million term loan A (B2/B) talked at Libor plus 275 bps.

The revolver, asset-based term loan and term loan A were already launched to U.S. and European investors in early September. Syndication on these tranches is still in process.

Proceeds will be used to help fund the acquisition of Univar by a wholly owned Dutch subsidiary of Ulysses Luxembourg Sarl, a portfolio company of CVC Capital Partners, for €53.50 in cash per share.

Univar is a Netherlands-based distributor of industrial chemicals and provider of related specialty services.

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