HDT lifts spread on $280 million term loan B to Libor plus 575 bps

By Sara Rosenberg

New York, June 28 – HDT Global increased pricing on its $280 million term loan B (B1/B) to Libor plus 575 basis points from talk in the range of Libor plus 525 bps to 550 bps, according to a market source.

Also, the original issue discount on the term loan was revised to 97 from 99 and the call protection was changed to a 101 hard call for one year from a 101 soft call for six months, the source said.

The term loan still has a 0.75% Libor floor.

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

Recommitments are due at 5 p.m. ET on Tuesday, the source added.

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

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

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