Solmax to launch $100 million incremental term loan on Wednesday

By Sara Rosenberg

New York, Nov. 16 – Solmax is set to hold a lender call at 11 a.m. ET on Wednesday to launch a fungible $100 million incremental first-lien term loan due July 23, 2028, according to a market source.

Barclays and TD Securities (USA) LLC are the bookrunners on the deal.

Pricing on the incremental term loan is Libor plus 475 basis points with a 0.75% Libor floor, in line with existing term loan pricing.

Original issue discount talk on the incremental term loan is not yet available.

Proceeds will be used to fund the acquisition of Propex.

Solmax is a Quebec-based producer of geosynthetics products for industrial and environmental applications.

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