East West talks $315 million of term loans at SOFR plus 550-575 bps

By Sara Rosenberg

New York, Jan. 19 – East West Manufacturing launched on Wednesday its $275 million seven-year covenant-lite term loan B and $40 million delayed-draw term loan with price talk of SOFR plus 550 basis points to 575 bps with a 0.75% floor and an original issue discount of 99, according to a market source.

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

The company’s $355 million of credit facilities (B3/B-) also include a $40 million revolver.

KeyBanc Capital Markets, ING and TD Securities (USA) LLC are the leads on the deal.

Commitments are due at 5 p.m. ET on Feb. 2, the source added.

Proceeds will be used to help fund the buyout of the company by MSD Partners.

East West is an Atlanta-based integrated design, manufacturing, and distribution services partner for original equipment manufacturers and distributors.

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