NANA Development gets $100 million term loan at Libor plus 675 bps

By Sara Rosenberg

New York, March 19 - NANA Development Corp. recently closed on a $100 million five-year senior secured term loan that is priced at Libor plus 675 basis points with a 1.25% Libor floor, according to a market source.

The loan was issued at an original issue discount of 99 and is non-callable for one year, then at 102 in year two and 101 in year three, the source said.

Amortization on the term loan is 20% per annum.

In addition to the term loan, the company got a $125 million asset-backed revolver.

Goldman Sachs & Co. led the deal.

Proceeds were used to refinance existing debt and for general corporate purposes.

NANA Development is an Anchorage, Alaska-based engineering, construction, resource development, facilities management and logistics company.

© 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.