Generac Power firms $830 million term loan B at par issue price

By Sara Rosenberg

New York, Dec. 11 – Generac Power Systems Inc. finalized the issue price on its $830 million seven-year term loan B (BB) at par, the tight end of the 99.875 to par talk, according to a market source.

Pricing on the term loan is Libor plus 175 basis points with a 0% Libor floor.

The term loan has 101 soft call protection for six months.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to amend and extend an existing term loan due 2023.

Generac is a Waukesha, Wis.-based designer and manufacturer of generators.

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