Element Materials seeks $70 million term loan B at discount of 99½

By Sara Rosenberg

New York, April 14 – Element Materials Technology is in market with a $70 million term loan B that is talked with an original issue discount of 99½, according to a market source.

Pricing on the term loan B is Libor plus 425 basis points with a 1% Libor floor, the source said.

RBC Capital Markets is the lead on the deal that launched this past Thursday.

Commitments are due on Friday, the source added.

Proceeds will be used to fund an acquisition.

Element is a global network of laboratories with experts specializing in materials testing, product qualification testing and failure analysis.

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