Transcendia talks $280 million first-lien loan at Libor plus 400 bps

By Sara Rosenberg

New York, April 27 – Transcendia launched on Thursday its $280 million seven-year first-lien term loan B with price talk of Libor plus 400 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

The term loan B has 101 soft call protection for six months, the source said.

The company’s $455 million in senior secured credit facilities also include a $50 million five-year revolver and a pre-placed $125 million eight-year second-lien term loan.

Goldman Sachs Bank USA, Citigroup Global Markets Inc., KeyBanc Capital Markets LLC, Bank of Ireland and Societe Generale are the lead banks on the deal.

Commitments are due on May 9, the source added.

Proceeds will be used to help fund the buyout of the company by GS Merchant Bank.

Transcendia is a Franklin Park, Ill.-based provider of custom engineered specialty films materials across a broad range of end-markets.

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