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Indicor sets price talk on $1.23 billion, €300 million term loans
By Sara Rosenberg
New York, Jan. 26 – Indicor (Roper Industrial Products Investment Co. LLC) released price talk on its $1,230,484,042 first-lien term loan due Nov. 22, 2029 and €300 million first-lien term loan due Nov. 22, 2029 with its bank meeting on Thursday, according to market sources.
The U.S. term loan is talked at SOFR plus 500 basis points with a 0.5% floor and an original issue discount of 94, and the euro term loan is talked at Euribor plus 500 bps to 525 bps with a 0% floor and a discount of 93, sources said.
Both term loans have 101 soft call protection for one year.
UBS Investment Bank, BNP Paribas Securities Corp., RBC Capital Markets, BMO Capital Markets, Mizuho, Natixis, TD Securities and Santander are the arrangers on the deal, with UBS the left lead on the U.S. loan and BNP left on the euro loan.
Commitments for the U.S. first-lien term loan are due at 5 p.m. ET on Feb. 3, and commitments for the euro term loan are due at noon ET on Feb. 3.
Allocations are expected on Feb. 6.
The company’s credit facilities also include a $300 million revolver due Nov. 22, 2027 and a $475 million privately placed second-lien term loan due Nov. 22, 2030.
Proceeds were used to help fund Clayton, Dubilier & Rice LLC’s roughly $2.6 billion acquisition of a majority stake in the industrial products businesses of Roper Technologies Inc., rebranded as Indicor. The transaction closed on Nov. 22, 2022. Roper retained a 49% minority interest in Indicor.
Indicor is a provider of products and services within three primary product categories: material preparation and testing, sensors and controls, and flow control.
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