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Milacron launches $245 million term loan B at Libor plus 325 bps
By Sara Rosenberg
New York, March 4 - Milacron LLC launched on Monday its $245 million seven-year term loan B with price talk of Libor plus 325 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.
The term loan B has 101 soft call protection for one year, the source said.
J.P. Morgan Securities LLC is the lead bank on the deal.
Proceeds will be used to help fund the acquisition of Mold-Masters, a Georgetown, Canada-based designer and manufacturer of hot runner systems, temperature controllers and auxiliary equipment for the plastic industry, for an enterprise value of C$975 million from 3i Group plc.
Closing is expected by April, subject to certain regulatory approvals.
Milacron is a Cincinnati-based plastics processing solutions provider.
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