H.B. Fuller finalized its acquisition of Royal Adhesives & Sealants for $1.575 billion.

According to a related 8-K filing the company entered into a term loan credit agreement with Morgan Stanley Senior Funding as administrative agent.

The credit agreement provides for a new $2.15 billion term loan facility the proceeds of which were used in part to finance the purchase price and related transaction expenses relating to the Royal acquisition and to refinance certain of Fuller and Royal’s existing indebtedness.

Morgan Stanley Senior Funding, Citigroup Global Markets, JPMorgan Chase Bank, Merrill Lynch and U.S. Bank were joint bookrunners and co-lead arrangers.

“This is an exciting step for Royal and our network of brands,” said Royal Adhesives & Sealants CEO Ted Clark. “Combining these two businesses creates a more capable and dynamic company for our customers and employees. We complement each other, selling in adjacent markets with very little customer overlap, and that presents an interesting number of growth opportunities. We offer different technologies, expertise and capabilities. Yet, we share the same passion for solving product development challenges by discovering and applying innovations in adhesive technology.”

All of the obligations under the term facility will be secured by a pari passu first-lien security interest in substantially all of the company assets and those of its material U.S. subsidiaries and will be guaranteed by its material U.S. subsidiaries. Loans under the term facility will rank pari passu in right of payment and security with the loans under its $4 billion secured revolving credit agreement.