Contech firms discount on $150 million six-year term loan at 98½

By Sara Rosenberg

New York, June 11 - Contech Engineered Solutions LLC finalized the original issue discount on its $150 million six-year term loan (B3/BB-) at 981/2, the midpoint of the 98 to 99 talk, according to a market source.

As before, pricing on the loan is Libor plus 500 basis points with a 1.25% Libor floor, and there is 101 soft call protection for one year.

Goldman Sachs Bank USA 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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