Imperial Dade to launch $650 million term loan on Wednesday

By Sara Rosenberg

New York, May 31 – Imperial Dade (BCPE Empire Holdings Inc.) is scheduled to hold a lender call at 10:30 a.m. ET on Wednesday to launch a non-fungible $650 million incremental first-lien term loan due June 11, 2026, according to a market source.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, Barclays, BMO Capital Markets, Citizens, Stifel and Brinley Partners are the arrangers on the deal.

Price talk on the incremental term loan is SOFR+10 basis points CSA plus 462.5 bps with a 0.5% floor and an original issue discount of 95, the source said.

The incremental term loan has 101 soft call protection for six months.

Expected term loan ratings are B3/B-.

Commitments are due at 5 p.m. ET on June 9, the source added.

Proceeds from the incremental term loan will be used to repay revolving credit facility borrowings and help fund the acquisition of a 45% equity stake in the company by Advent International from Bain Capital Private Equity.

Imperial Dade is a Jersey City, N.J.-based distributor of foodservice disposables and janitorial sanitation products.

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