Michael Baker to launch $125 million term loan on Wednesday

By Sara Rosenberg

New York, Aug. 8 – Michael Baker International LLC is scheduled to hold a lender call at 2 p.m. ET on Wednesday to launch a fungible $125 million incremental first-lien term loan due December 2028, according to a market source.

UBS Investment Bank is the left lead arranger on the deal.

Price talk on the incremental term loan is SOFR plus 500 basis points with a 0.75% floor and an original issue discount of 98.8, the source said.

Proceeds will be used to fund an acquisition and to repay borrowings under the company’s ABL facility.

Pro forma for the transaction, the term loan will total $420.5 million.

Michael Baker is a Pittsburgh-based provider of engineering and consulting services, focused on complex infrastructure challenges.

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