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Esdec Solar flexes $375 million term loan B to Libor plus 500 bps
By Sara Rosenberg
New York, Aug. 19 – Esdec Solar Group BV increased pricing on its $375 million term loan B (B2/B) due 2028 to Libor plus 500 basis points from Libor plus 425 bps, according to a market source.
In addition, the Libor floor on the term loan was raised to 0.75% from 0.5% and the original issue discount talk was changed to a range of 97 to 98 from 99, the source said.
The term loan still has 101 soft call protection for six months.
JPMorgan Chase Bank is the lead on the deal.
Commitments are due at noon ET on Monday, the source added.
Proceeds will be used to refinance existing debt and fund a dividend.
Esdec Solar is a Netherlands-based developer, manufacturer and supplier of professional solar rooftop mounting solutions for the residential, commercial and industrial markets.
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