USNR Wood talks $315 million term loan B at Libor plus 475 bps

By Sara Rosenberg

New York, Sept. 29 – USNR Wood Fiber is shopping its $315 million seven-year term loan B with price talk of Libor plus 475 basis points with a 0.75% Libor floor and an original issue discount of 98.5, according to a market source.

The term loan has 101 soft call protection for six months.

JPMorgan Chase Bank, Citizens Bank and US Bank are the leads on the deal that launched with a call on Monday.

Commitments are due at 5 p.m. ET on Oct. 7, the source added.

Proceeds will be used to help fund the buyout of the company by One Equity Partners and merger of USNR LLC with Wood Fiber Group.

USNR is a Woodland, Wash.-based supplier of equipment and technologies for the wood processing industry. Wood Fiber is a manufacturer and supplier of consumable cutting tools, MRO supplies, technical services and cutting tool related maintenance equipment to the wood fiber processing industry.

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