Harsco launches $500 million term loan B at Libor plus 250-275 bps

By Sara Rosenberg

New York, Feb. 25 – Harsco Corp. launched on Thursday its $500 million seven-year first-lien term loan B (Ba2/BB) with price talk of Libor plus 250 basis points to 275 bps with a 0.5% Libor floor and an original issue discount of 99.5, according to a market source.

Goldman Sachs Bank USA, BMO Capital Markets, BofA Securities Inc., PNC Bank, RBC Capital Markets, Fifth Third, Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. are the lead arrangers on the deal.

Commitments are due at noon ET on March 5, the source added.

Proceeds will be used to refinance the company’s existing term loan A and term loan B.

Harsco is a Camp Hill, Pa.-based industrial company providing engineered products and industrial services to the steel, rail and energy industries.

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