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Husky Injection firms offer price on $160 million add-on at par
By Sara Rosenberg
New York, Nov. 13 - Husky Injection Molding Systems Ltd. finalized the offer price on its $160 million add-on term loan (Ba3/B) at par, the low end of the revised 99¾ to par talk and tighter than initial talk of 99¼ to 991/2, according to a market source.
Pricing on the add-on is Libor plus 325 basis points with a 1% Libor floor, in line with existing term loan pricing.
Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc., RBC Capital Markets LLC and TD Securities (USA) LLC are leading the deal.
Proceeds will be used to fund the acquisition of Schottli Group, a Diessenhofen, Switzerland-based medical and closure mold-making company.
Husky is a Bolton, Ont.-based supplier of injection molding equipment and services to the plastics industry.
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