Imperial Dade launches $1.5 billion term loan at SOFR plus 475 bps

By Sara Rosenberg

New York, May 1 – Imperial Dade held a lender call at 12:30 p.m. ET on Monday to launch a $1.5 billion term loan due 2028 that is talked at SOFR plus 475 basis points with a 0.5% floor and an original issue discount of 97.5 to 98, according to a market source.

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

JPMorgan Chase Bank, Barclays, BMO Capital Markets, Credit Suisse Securities (USA) LLC, Citizens, MUFG, Stifel, TD Securities (USA) LLC and US Bank are the leads on the deal.

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

Proceeds will be used to extend a portion of the company’s existing first-lien term loans that are due in 2026.

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

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