Grede Holdings revises offer price on $316 million term loan to par

By Sara Rosenberg

New York, April 30 - Grede Holdings LLC tightened the offer price on its $316 million five-year term loan to par from 991/2, according to a market source.

The loan is priced at Libor plus 350 basis points with a 1% Libor floor and includes 101 soft call protection for six months.

GE Capital Markets is leading the deal.

Proceeds will be used to refinance an existing term loan that is priced at Libor plus 550 bps with a 1.5% Libor floor and repay ABL revolver borrowings.

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

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