Normec readies launch of €665 million of term loans for Monday

By Sara Rosenberg

New York, March 14 – Normec is set to hold a lender call at 7 a.m. ET on Monday and small group meetings on Monday and Tuesday to launch a €565 million seven-year term loan B and a €100 million delayed-draw term loan B, according to a market source.

HSBC and JPMorgan Chase Bank are the joint physical bookrunners on the deal. Goldman Sachs and RBC are joint bookrunners.

Included in the term loan is 101 soft call protection for six months.

The delayed-draw term loan will be fungible with the term loan B once it is drawn.

The funded and delayed-draw term loans are being sold as a pro rata strip.

Commitments are due at 1 p.m. ET on March 26, the source added.

Proceeds will be used to refinance existing debt and pay transaction related expenses.

Astorg is the sponsor.

Normec is a Netherlands-based testing, inspection, certification and compliance provider focused on the foodcare, life safety, sustainability and health care end markets.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.