Husky Injection launches $160 million add-on term loan at 99-99.5 OID

By Sara Rosenberg

New York, Oct. 11 – Husky Injection Molding Systems Ltd. launched on Tuesday its $160 million senior secured add-on first-lien term loan B (B2/B) due June 30, 2021 with price talk of Libor plus 325 basis points with a 1% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

Both the add-on term loan B and the existing term loan B are getting 101 soft call protection for six months, the source said.

Amortization on the loan is 1% per annum.

Goldman Sachs Bank USA, TD Securities (USA) LLC, Barclays, Morgan Stanley Senior Funding Inc. and RBC Capital Markets LLC are the joint bookrunners on the deal.

Commitments are due on Oct. 18, the source added.

Proceeds will be used to repay second-lien borrowings.

Husky is a Bolton, Ont.-based supplier of injection molding equipment and services to the plastics industry.

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