Resonetics to launch $390 million credit facilities on Tuesday

By Sara Rosenberg

New York, April 12 – Resonetics LLC will hold a lender call at 10 a.m. ET on Tuesday to launch $390 million of first-lien credit facilities, according to a market source.

Credit Suisse Securities (USA) LLC, Goldman Sachs Bank USA, BMO Capital Markets and Antares Capital are the lead arrangers on the deal.

The debt consists of a $50 million revolver and a $340 million seven-year covenant-lite first-lien term loan, the source said.

Price talk on the first-lien term loan is Libor plus 400 basis points to 425 bps with a 0.75% Libor floor and an original issue discount of 99, the source continued.

The first-lien term loan has 101 soft call protection for six months.

Commitments are due at noon ET on April 23, the source added.

The company is also getting a $100 million privately placed second-lien term loan.

Proceeds will be used to refinance existing debt and fund cash to holdco.

Resonetics is a MedTech contract manufacturing organization specializing in micro-manufacturing and other highly technical capabilities.

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