Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for MI Windows and Doors, Inc. > News item |
MI Windows cuts spread on $750 million loan to Libor plus 375 bps
By Sara Rosenberg
New York, Dec. 11 – MI Windows and Doors Inc. trimmed pricing on its $750 million seven-year term loan B (B2/B+) to Libor plus 375 basis points from talk in the range of Libor plus 400 bps to 425 bps, according to a market source.
Additionally, the original issue discount on the term loan was changed to 99.5 from 99, the source said.
The term loan still has a 0.75% Libor floor and 101 soft call protection for six months.
RBC Capital Markets is the left lead arranger on the deal.
Commitments are due at noon ET on Monday, accelerated from 5 p.m. ET on Monday, the source added.
Proceeds will be used to refinance an existing roughly $665 million term loan B priced at Libor plus 550 bps with a 1% Libor floor and to fund an acquisition.
MI Windows is a Gratz, Pa.-based manufacturer of vinyl, aluminum and fiberglass windows and patio doors.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.