Milacron offers $50 million add-on term loan at discount of 99½

By Sara Rosenberg

New York, Feb. 10 - Milacron LLC is shopping its $50 million add-on term loan at an original issue discount of 991/2, according to a market source.

Pricing on the add-on is Libor plus 600 basis points with a 1.5% Libor floor - in line with existing term loan pricing.

Bank of America Merrill Lynch is the lead bank on the deal that launched with a call on Thursday.

Proceeds will be used to fund a dividend.

Commitments are due on Feb. 17.

Milacron is a Cincinnati-based company involved in plastics-processing technologies, metalworking fluids and precision machining.

© 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.