Contech launches $150 million six-year term loan at Libor plus 500 bps

By Sara Rosenberg

New York, May 22 - Contech Engineered Solutions LLC launched its $150 million six-year term loan (B3/BB-) on Wednesday with price talk of Libor plus 500 basis points with a 1.25% Libor floor and an original issue discount of 98 to 99, according to a market source.

Goldman Sachs & Co. is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Contech is a West Chester, Ohio-based provider of engineering and site solutions for the residential, commercial and infrastructure markets.

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