Husky Injection to launch $1.3 billion term loan B on Tuesday

By Sara Rosenberg

New York, Jan. 22 – Husky Injection Molding Systems Ltd. is scheduled to hold a lender call at 10 a.m. ET on Tuesday to launch a $1.3 billion five-year covenant-lite term loan B, according to a market source.

Deutsche Bank Securities Inc., BofA Securities Inc. and others to be announced are the bookrunners on the deal. Deutsche is the administrative agent.

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

Commitments are due at 5 p.m. ET on Jan. 31.

Proceeds will be used with $1.3 billion of senior secured notes and new preferred equity to refinance the company’s existing capital structure, including senior notes due 2026, senior PIK notes due 2025 and credit facilities borrowings, and to pay respective fees and expenses.

Husky is a Bolton, Ont.-based provider of engineered tooling, services and systems primarily to the food and beverage packaging and medical end markets.

© 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.