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Sotera launches $1.77 billion term loan B at Libor plus 300-325 bps
By Sara Rosenberg
New York, Jan. 12 – Sotera Health Co. launched on Tuesday its $1.768 billion term loan B due December 2026 with price talk of Libor plus 300 basis points to 325 bps with a 0.5% Libor floor and an original issue discount of 99.5 to par, according to a market source.
The term loan has 101 soft call protection for six months.
J.P. Morgan Securities LLC is the lead on the deal.
Commitments are due at noon ET on Friday.
Proceeds will be used to reprice an existing term loan B down from Libor plus 450 bps with a 1% Libor floor.
Sotera is a Broadview Heights, Ohio-based provider of mission-critical end-to-end sterilization solutions and lab testing and advisory services for the health care industry.
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