SRAM readies launch of $150 million add-on term loan B for Wednesday

By Sara Rosenberg

New York, July 8 – SRAM LLC will hold a lender call on Wednesday to launch a $150 million add-on delayed-draw term loan B, according to a market source.

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

Price talk on the add-on loan is Libor plus 275 basis points with a 1% Libor floor and an original issue discount of 99 to 99.5, the source said.

Proceeds will be used to fund a distribution to shareholders.

Commitments are due at noon ET on July 23, the source added.

SRAM is a Chicago-based bicycle components company.

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