Consolidated Precision launches loan repricing at Libor plus 350 bps

By Sara Rosenberg

New York, Feb. 19 - Consolidated Precision Products Corp. (WPP CPP Holdings LLC) launched a repricing of its $515 million first-lien credit facility to Libor plus 350 basis points from Libor plus 450 bps, according to a market source.

The facility consists of a $415 million term loan and a $100 million revolver.

The term loan is talked with a 1% Libor floor, down from 1.25% currently, the source said.

Also, the repriced term loan has 101 soft call protection for six months.

UBS Securities LLC is the lead bank on the deal.

Consolidated Precision Products is a Pomona, Calif.-based manufacturer of highly engineered components and sub-assemblies, supplying the commercial aerospace, military and industrial markets with small- to large-function critical products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.