Dayton launches $185 million term loan at Libor plus 475-500 bps

By Sara Rosenberg

New York, June 23 – Dayton Superior Corp. launched on Tuesday its $185 million seven-year first-lien term loan with price talk of Libor plus 475 basis points to 500 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months and a maximum consolidated leverage covenant.

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

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.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.