Grede Holdings revises OID on $100 million add-on term loan to 99½

By Sara Rosenberg

New York, Dec. 18 - Grede Holdings LLC tightened the original issue discount on its $100 million add-on term loan to 99½ from 99, according to a market source.

Pricing on the add-on matches existing term loan pricing at Libor plus 550 basis points with a 1.5% Libor floor.

GE Capital Markets is leading the deal.

Proceeds will be used to fund a dividend.

Grede is a Southfield, Mich.-based iron casting supplier.

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