Imperial Dade to launch $2.14 billion term loan on Thursday

By Sara Rosenberg

New York, Jan. 10 – Imperial Dade (BCPE Empire Holdings Inc.) is set to hold a lender call at 10 a.m. ET on Thursday to launch a roughly $2.143 billion first-lien term loan (B3/B-) due December 2028, according to a market source.

UBS Investment Bank is the left lead arranger on the deal. Credit Suisse is the administrative agent.

Of the total term loan amount, roughly $1.993 billion is a repricing of the company’s existing first-lien term loan and $150 million is a new fungible incremental piece to pay down ABL borrowings.

Price talk on the term loan is SOFR plus 400 basis points to 425 bps with a 0.5% floor, an original issue discount of 99.75 on rolled positions and a discount of 99.5 on new commitments, the source said.

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

Commitments are due at 5 p.m. ET on Jan. 17, the source added.

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

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