Metaldyne ups add-on term loan B to $125 million, revises offer to par

By Sara Rosenberg

New York, Oct. 25 - Metaldyne LLC increased its add-on term loan B (B+) due Dec. 31, 2018 to $125 million from $100 million and tightened the offer price to par from 991/2, according to sources.

The add-on priced at Libor plus 375 basis points with a 1.25% Libor floor, in line with existing term loan B pricing, and includes 101 soft call protection through February 2014.

Recommitments were due on Friday, sources said.

Allocations are expected to go out on Monday.

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

Proceeds will be used to fund a dividend.

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

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