Columbus McKinnon launches $75 million term loan at 99-99.25 OID

By Sara Rosenberg

New York, June 20 – Columbus McKinnon Corp. held a lender call at 1 p.m. ET on Tuesday to launch a fungible $75 million add-on term loan due May 2028 that is talked with an original issue discount of 99 to 99.25, according to a market source.

Pricing on the add-on term loan is SOFR+CSA plus 275 basis points with a 0.5% Libor floor.

CSA is ARRC standard of 11.448 bps one-month rate, 26.161 bps three-month rate and 42.826 bps six-month rate.

JPMorgan Chase Bank is the lead on the deal.

Commitments are due at noon ET on Wednesday, the source added.

Proceeds will be used to repay revolving credit facility borrowings.

Columbus McKinnon is a Getzville, N.Y.-based designer, manufacturer and marketer of intelligent motion solutions for material handling.

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