Darling Ingredients to launch $525 million term loan B on Tuesday

By Sara Rosenberg

New York, Dec. 4 – Darling Ingredients Inc. is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch a $525 million seven-year covenant-light term loan B, according to a market source.

BMO Capital Markets, Bank of America Merrill Lynch, J.P. Morgan Securities LLC and Citigroup Global Markets Inc. are the joint lead arrangers on the deal.

Amortization on the term loan is 1% per annum, the source said.

Proceeds will be used to refinance an existing term loan B.

Commitments are due at noon ET on Friday, the source added.

Darling is an Irving, Texas-based developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients.

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