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Filtration Group upsizes add-on first-lien term loan to $140 million
By Sara Rosenberg
New York, May 19 – Filtration Group Corp. lifted its add-on first-lien term loan to $140 million from $115 million and tightened the issue price to par from 99.75, according to a market source.
As before, pricing on the add-on term loan is Libor plus 325 basis points with a 1% Libor floor, in line with the existing first-lien term loan.
Goldman Sachs Bank USA is the lead bank on the deal.
Proceeds will be used to pay down second-lien term loan borrowings.
Filtration Group is a Chicago-based manufacturer and distributor of filtration products to end markets.
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