Metaldyne tightens U.S. loan OID to 991/2, widens euro loan OID to 98

By Sara Rosenberg

New York, Dec. 4 - Metaldyne LLC revised the original issue discount on its $415 million six-year U.S. term loan B to 99½ from 99 and the discount on its $130 million six-year euro-equivalent term loan B to 98 from 99, according to a market source.

Pricing on the U.S. tranche is still Libor plus 475 basis points with a 1.25% Libor floor, and pricing on the euro tranche remained at Euribor plus 525 bps with a 1.25% Euribor floor.

The company's $620 million credit facility (B1/B+) also includes a $75 million five-year revolver.

Bank of America Merrill Lynch, Deutsche Bank Securities Inc., RBC Capital Markets LLC and Barclays are the lead banks on the deal.

Proceeds will be used to help fund American Securities' buyout of the company from Carlyle Group.

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

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