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Sotera flexes $1.77 billion term loan B to Libor plus 275 bps
By Sara Rosenberg
New York, Jan. 15 – Sotera Health Co. reduced pricing on its $1.768 billion term loan B due December 2026 to Libor plus 275 basis points from talk in the range of Libor plus 300 bps to 325 bps, according to a market source.
Additionally, the issue price on the term loan firmed at par, the tight end of the 99.5 to par talk, the source said.
The term loan still has a 0.5% Libor floor and 101 soft call protection for six months.
J.P. Morgan Securities LLC is the lead on the deal.
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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