Electrical Components to launch $50 million add-on term B on Tuesday

By Sara Rosenberg

New York, July 27 – Electrical Components International Inc. is set to hold a lender call on Tuesday to launch a $50 million add-on term loan B due May 2021, according to a market source.

Bank of America Merrill Lynch is the lead bank on the deal.

Pricing on the existing term loan B is Libor plus 475 basis points with a step-down to Libor plus 450 bps when total net leverage is less than 3.5 times and a 1% Libor floor.

Proceeds will be used to fund a dividend.

Electrical Components is a St. Louis-based manufacturer of wire harnesses and value-added assembly services for consumer appliance and specialty-industrial applications.

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