Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers G > Headlines for Generac Power Systems, Inc. > News item |
Generac launches $929 million term loan B at Libor plus 275 bps
By Sara Rosenberg
New York, Oct. 19 – Generac Power Systems Inc. launched on Wednesday a $929 million term loan B due 2023 at talk of Libor plus 275 basis points with a step-down to Libor plus 250 bps at leverage of 3 times, a 0.75% Libor floor and an original issue discount of 99.75, according to a market source.
The term loan B has 101 soft call protection for six months, the source said.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to extend the existing term loan B due 2020 that is currently priced at Libor plus 275 bps with a 0.75% Libor floor.
Commitments are due at 5 p.m. ET on Oct. 27, the source added.
Generac is a Waukesha, Wis.-based designer and manufacturer of generators.
© 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.