C.H.I. Overhead to launch $70 million add-on term loan on Thursday

By Sara Rosenberg

New York, Feb. 7 - C.H.I. Overhead Doors Inc. will hold a lender meeting on Thursday to launch a fungible $70 million add-on term loan B due March 2019, according to a market source.

GE Capital Markets is leading the deal.

The add-on is talked at Libor plus 425 basis points with a 1.25% Libor floor, in line with the existing B loan, and is being offered with an upfront fee of 50 bps, the source said.

Proceeds will be used to fund a dividend.

C.H.I. Overhead is an Arthur, Ill.-based manufacturer of residential, commercial and rolling steel overhead garage doors.

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