Harsco finalizes $545 million term loan B at Libor plus 225 bps

By Sara Rosenberg

New York, June 14 – Harsco Corp. set pricing on its $545 million senior secured term loan B due December 2024 at Libor plus 225 basis points, the low end of the Libor plus 225 bps to 250 bps talk, according to a market source.

As before, the term loan has a 1% Libor floor, a par issue price and 101 soft call protection for six months.

Goldman Sachs Bank USA, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Bank of America Merrill Lynch, RBC Capital Markets, U.S. Bank and KeyBanc Capital Markets are the leads on the deal. Co-managers include PNC, Fifth Third and ING.

Proceeds will be used to reprice an existing term loan down from Libor plus 300 bps with a 1% Libor floor.

Closing is expected on Monday.

Harsco is a Camp Hill, Pa.-based diversified industrial company providing a range of onsite services and engineered products to the global steel, energy and railway sectors.

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