Imperial Dade changes $1.5 billion term loan OID talk to 98.5-99

By Sara Rosenberg

New York, May 9 – Imperial Dade revised the original issue discount talk on its $1.5 billion term loan due 2028 (B3) to a range of 98.5 to 99 from a range of 97.5 to 98, according to a market source.

Pricing on the term loan remained at SOFR plus 475 basis points with a 0.5% floor.

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

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.

Recommitments were scheduled to be due at 5 p.m. ET on Tuesday, 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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