Ta Chen International to launch $250 million term loan B on Tuesday

By Sara Rosenberg

New York, Oct. 22 – Ta Chen International Inc. will hold a lender call on Tuesday to launch a $250 million five-year term loan B (B3/B), according to a market source.

Originally, the lender call was expected to take place on Monday, but timing was pushed out by one day.

J.P. Morgan Securities LLC is the lead bank on the deal.

Commitments are due at noon ET on Nov. 1, the source added.

Proceeds will be used to help fund the acquisition of Arconic’s Texarkana, Texas, rolling mill for about $300 million in cash, plus additional contingent consideration of up to $50 million.

Closing is expected this quarter, subject to regulatory approvals and other customary conditions.

Ta Chen is a Long Beach, Calif.-based distributor of stainless, aluminum and nickel alloy coils, sheets, plates, long products, tubes and PVFs.

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