Dayton Superior to launch $185 million first-lien term loan Tuesday

By Sara Rosenberg

New York, June 19 – Dayton Superior Corp. is set to hold a bank meeting at 2:30 p.m. ET in New York on Tuesday to launch a $185 million seven-year first-lien term loan, according to a market source.

Credit Suisse Securities (USA) LLC is the lead bank on the deal.

The term loan has a 1% Libor floor, 101 soft call protection for six months and a maximum consolidated leverage covenant, the source said.

Proceeds will be used to refinance an existing $160 million term loan and to partially pay down ABL borrowings.

Commitments are due at 5 p.m. ET on July 8, the source added.

Dayton Superior is a Miamisburg, Ohio-based supplier to the non-residential concrete construction industry.

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