Citibank and Goldman Sachs will launch the eagerly anticipated bank deal for SC Johnson Wax Professional on Feb. 6, and as predicted the pro rata has been trimmed down from $800 million to $550 million. The leads were initially looking at a $400 million revolver and $400 million "A" term loan, but bankers said in the current market, this was ambitious (LMW, 1/21). Citibank and Goldman bankers did not return calls, while Johnson Wax policy is not to comment, according to an official at the company. The new structure could not be ascertained by press time, but a banker said the $500 million institutional tranche has been upped. One banker said, with only about 10 banks interested in the pro rata market right now, the $800 million was always going to be tough. But with LIBOR rates at under 2%, the company is still getting cheap money from the institutional market, he added.