Mirion launches $66 million add-on first-lien term loan at 99.75 OID

By Sara Rosenberg

New York, Dec. 3 – Mirion Technologies Inc. launched on Tuesday its fungible $66 million add-on covenant-lite first-lien term loan B due March 2026 with original issue discount talk of 99.75, according to a market source.

Pricing on the add-on term loan is Libor plus 400 basis points with a 0% Libor floor.

Amortization on the add-on term loan is 1% per annum.

Morgan Stanley Senior Funding Inc. and HSBC Securities (USA) Inc. are the joint lead arrangers and bookrunners on the deal.

Commitments are due at 5 p.m. ET on Wednesday, the source said.

Proceeds will be used to fund tuck-in acquisitions, for general corporate purposes and to pay related fees and expenses.

Mirion Technologies is a provider of radiation detection, measurement, analysis and monitoring products to nuclear power, medical, military, and homeland security markets.

© 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.