SRAM flexes $544 million term loan B to Libor plus 325 bps

By Sara Rosenberg

New York, Sept. 14 – SRAM LLC increased pricing on its $544 million term loan B (B) due 2024 to Libor plus 325 basis points from Libor plus 300 bps, according to a market source.

The term loan still has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to reprice an existing term loan B down from Libor plus 350 bps with a 1% Libor floor.

SRAM is a Chicago-based bicycle components company.

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