Jadex Inc. has completed a $20 million fungible add-on to its covenant-lite term loan B due 2028 (L+475, 0.75% Libor floor) at a issue price of 98.5 in a Credit Suisse-led transaction, according to sources. Proceeds will be used for a tuck-in acquisition. Jadex placed the existing $450 million TLB in February to back a dividend recapitalization. One Rock Capital-backed Jadex, formerly known as Process Solutions, manufactures custom-designed plastic, nylon, monofilament and zinc products in the healthcare, consumer and industrial end markets. Terms:
| Borrower | Jadex Inc. |
| Issue | $20 million fungible add-on term loan B |
| UoP | M&A |
| Spread | L+475 |
| Libor floor | 0.75% |
| Price | 98.5 |
| Tenor | 7-year |
| YTM | 5.90% |
| Four-year yield | 6.07% |
| Call protection | 101 soft call |
| Corporate ratings | B-/B2 |
| Facility ratings | B-/B2 |
| Recovery ratings | 3 |
| Financial covenants | None |
| Arrangers | CS |
| Admin agent | CS |
| Px Talk | N/A |
| Sponsor | One Rock Capital |
| Notes | Tranche size now $470 million. |