Rohm widens OID talk on $612 million and €977 million term loans

By Sara Rosenberg

New York, Feb. 4 – Rohm revised original issue discount talk on its $612 million term loan B (B2/B/B) due July 31, 2026 to a range of 85 to 86 from 95 and on its €977 million term loan B (B2/B/B) due July 31, 2026 to a range of 87 to 88 from 95, according to a market source.

Pricing on the term loans is Libor/Euribor plus 500 basis points with a 0% floor.

Barclays, Deutsche Bank and Goldman Sachs are the bookrunners on the deal, with Barclays the left lead on the U.S. piece. Mandated lead arrangers include BofA Securities Inc., RBC Capital Markets, HSBC, NatWest, Bank of China and Helaba.

Commitments are due at the close of business Wednesday, the source said.

This transaction is a sell-down of the loans that were obtained last year for the buyout of Evonik Industries AG’s methacrylates business by Advent International for €3 billion.

Rohm, formerly known as Madrid, is a provider of methacrylate solutions to a variety of end markets, including paints and coatings, construction, automotive and health care.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.