Metaldyne readies launch of $355 million term loan B for Wednesday

By Sara Rosenberg

New York, May 2 - Metaldyne LLC is scheduled to hold a lender call at 10 a.m. ET on Wednesday to launch a $355 million six-year term loan B, according to a market source.

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

There is 101 soft call protection for six months, the source said.

Price talk on the loan is not yet available.

Proceeds will be used to refinance existing debt, for general corporate purposes and for potential shareholder actions.

Commitments are due on May 12.

Metaldyne is a Plymouth, Mich.-based designer and supplier of metal-formed components and assemblies for engine and transmission applications.

© 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.