Sensus Metering to reprice $235 million term loan at Libor plus 250 bps

By Paul A. Harris

St. Louis, Sept. 30 - Sensus Metering Systems Inc. will reprice its $235 million institutional term loan (B2/B+) at Libor plus 250 basis points, according to an informed source.

The deal, which closed in December, originally priced at Libor plus 300 basis points.

Credit Suisse First Boston and Goldman Sachs & Co. are lead banks on the deal.

Proceeds were used to help fund The Jordan Co.'s Resolute Fund's, Goldman Sachs Capital Partners' and management's leveraged buyout of Invensys plc's metering business.

Sensus is a Raleigh, N.C., producer of water meters and automatic meter reading systems.

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