Husky launches amendment to transition term loan B to SOFR

By Sara Rosenberg

New York, June 16 – Husky (Titan Acquisition Ltd.) launched a negative consent amendment to shift its $1.995 billion term loan B due March 2025 to SOFR from Libor and add a credit spread adjustment, according to a market source.

The CSA being offered is ARRC standard of 11.448 basis points one-month rate, 26.161 bps three-month rate, 42.826 bps six-month rate and 71.513 bps one-year rate, the source said.

With this amendment, pricing on the term loan B will be SOFR+CSA plus 300 bps, revised from Libor plus 300 bps.

Deutsche Bank Securities Inc. is the lead on the deal.

The amendment deadline is 5 p.m. ET on June 23, the source added.

Husky is a Bolton, Ont.-based provider of engineered tooling, services and systems to the plastic injection molding industry.

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