Azelis launches $322.56 million, €168.23 million term loan repricing

By Paul A. Harris

Portland, Ore., Oct. 24 – Azelis Finance SA launched a two-part repricing of its senior secured term loan B due Dec. 17, 2022 (B2/B+) with price talk on Monday, according to a market source.

A $322,562,500 tranche is talked at Libor plus 400 basis points to 425 bps atop a 1% Libor floor at par.

A €168,227,506 tranche is talked at Euribor plus 375 bps to 400 bps atop a 1% Euribor floor at par.

Both tranches come with six months of soft call protection at 101 and annual amortization rates of 1%.

Morgan Stanley Senior Funding Inc. is the lead bank on the deal.

Azelis is an Antwerp, Belgium-based pure-play specialty chemical distributor.

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