Potters launches $110 million incremental term loan at 99.5-99.75 OID

By Sara Rosenberg

New York, March 25 – Potters Industries LLC was scheduled to hold a lender call at 1 p.m. ET on Monday to launch a fungible $110 million incremental first-lien term loan due Dec. 14, 2027 that is talked with an original issue discount of 99.5 to 99.75, according to a market source.

Pricing on the incremental term loan is SOFR+10 basis points CSA plus 400 bps with a 0.75% floor.

The incremental term loan has no call protection and amortization of 1% per annum, the source said.

UBS Investment Bank is the left lead arranger on the deal.

Commitments are due at 5 p.m. ET on April 1, the source added.

Proceeds will be used to fund a dividend, to finance merger and acquisition activity and for general corporate purposes.

The Jordan Co. is the sponsor.

Potters is a supplier of glass microspheres for transportation safety and performance materials.

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