UBS is set to launch syndication of two $270 million deals this week. The first backs the leveraged buyout of Dynea North America and the second backs the buyout of Harrington Holdings. The Dynea credit will fund its purchase by the Teachers' Private Capital, the private investment arm of the Ontario Teachers' Pension Plan. Harrington's financing will back its purchase by The Jordan Co. Syndication is set for Wednesday and Thursday, respectively.
Dynea's $270 million senior secured credit facility comprises a five-year, $20 million revolver and a seven-year, $250 million first-lien term loan facility. The term loan facility is split into a $227 million U.S. term loan tranche and a $23 million Canadian term loan tranche. Pricing on the credit could not be determined. The purchase price of the company could not be determined. Calls to a company spokesman were not returned
Harrington's $270 million senior secured deal consists of a six-year, $45 million revolver; a seven-year, $165 million first-lien term loan and a seven-and-a-half-year, $60 million second-lien term loan. Pricing could not be determined. Based in Twinsburg, Ohio, Harrington markets and distributes healthcare products to managed care beneficiaries, home care suppliers, and professional customers. The purchase price could not be determined. A company spokesman could not be reached.