A. M. Castle $100 million revolver priced at Libor plus 175 bps

By Sara Rosenberg

New York, Dec. 21 - A. M. Castle & Co.'s new $100 million four-year senior secured asset-based revolving credit facility is initially priced at Libor plus 175 basis points with a 37.5 bps unused fee, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing can range from Libor plus 150 bps to 200 bps and the unused fee can range from 25 bps to 50 bps, based on quarterly average undrawn availability.

Jefferies & Co. and Wells Fargo Securities LLC acted as the lead banks on the deal that was completed on Dec. 15.

The revolver was obtained in connection with the $165 million acquisition of Tube Supply Inc., a Houston-based distributor of specialty tubular and bar products for the oil and gas industry.

A. M. Castle is an Oak Brook, Ill.-based distributor of specialty metal and plastic products, value-added services and supply-chain services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.