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PRV Aerospace launches $27 million add-on term loan B to investors
By Sara Rosenberg
New York, Dec. 11 - PRV Aerospace LLC held a call on Tuesday morning to launch a $27 million add-on to its term loan B, according to a market source.
Pricing on the add-on, as well as on the existing term loan B, is Libor plus 525 basis points with a 1.25% Libor floor, the source said.
The add-on is being talked with an original issue discount of 991/2, the source added.
Proceeds will be used to support an acquisition.
GE Capital Markets is the lead bank on the deal.
PRV Aerospace is an Everett, Wash.-based aerospace and defense group.
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