HDT launches $280 million term loan B at Libor plus 525-550 bps

By Sara Rosenberg

New York, June 10 – HDT Global launched on Thursday its $280 million term loan B (B1/B) with price talk of Libor plus 525 basis points to 550 bps with a 0.75% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

RBC Capital Markets, Barclays and Societe Generale are the joint lead arrangers on the deal.

Commitments are due at noon ET on June 24, the source added.

Proceeds will be used to help fund the buyout of the company by Nexus Capital Management LP from Charlesbank Capital Partners.

Closing is expected this quarter, subject to regulatory approvals and other customary conditions.

HDT is a Solon, Ohio-based manufacturer of highly engineered, mission‐capable infrastructure solutions across defense, aerospace and government markets.

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