SRAM finalizes $498 million term loan B at Libor plus 275 bps

By Sara Rosenberg

New York, April 19 – SRAM LLC firmed pricing on its $498 million term loan B (B+) due March 2024 at Libor plus 275 basis points, the low end of the Libor plus 275 bps to 300 bps talk, 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 down from Libor plus 325 bps with a 1% Libor floor.

SRAM is a Chicago-based bicycle components company.

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