Westinghouse readies launch of $3.03 billion term loan for Wednesday

By Sara Rosenberg

New York, Jan. 7 – Westinghouse is scheduled to hold a lender call at 1 p.m. ET on Wednesday to launch a $3,031,000,000 first-lien term loan (B2/B/BB-) due August 2025, according to a market source.

Credit Suisse Securities (USA) LLC is the lead arranger on the deal.

The term loan is talked with a 0.75% Libor floor and 101 soft call protection for six months, the source said.

Amortization on the term loan is 1% per annum.

Proceeds will be used to reprice an existing term loan.

Commitments are due at noon ET on Jan. 15, the source added.

Westinghouse is a Pittsburgh-based provider of infrastructure services to a nuclear reactor fleet.

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