Rohm finalizes discounts on $612 million, €977 million term loans

By Sara Rosenberg

New York, Feb. 6 – Rohm firmed the original issue discount on its $612 million term loan B (B2/B/B) due July 31, 2026 at 86.5, tight of revised talk in the range of 85 to 86 but wide of initial talk of 95, according to a market source.

Additionally, the discount on the company’s €977 million term loan B (B2/B/B) due July 31, 2026 finalized at 89.5, tight of revised talk in the range of 87 to 88 but wide of initial talk of 95, the source said.

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 were scheduled to be due at noon ET on Thursday, the source added.

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.

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