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Knowlton Development changes €100 million loan OID talk to 99-99.5
By Sara Rosenberg
New York, Jan. 21 – Knowlton Development Corp. Inc. revised the original issue discount talk on its fungible €100 million incremental term loan (B3//B-) to a range of 99 to 99.5 from a range of 97 to 98, according to a market source.
Pricing on the incremental term loan is Euribor plus 500 basis points with a 0% floor, in line with existing term loan pricing.
The incremental term loan and existing term loan will get 101 soft call protection for six months.
UBS Investment Bank is the lead on the deal.
Commitments are due at 7 a.m. ET on Friday, the source added.
Proceeds will be used to fund a distribution to shareholders.
Knowlton Development is a Longueuil, Quebec-based manufacturer and custom formulator of beauty, personal care and household products.
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