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MW Industries prices $95 million term loan at Libor plus 425 bps
By Sara Rosenberg
New York, Nov. 3 – MW Industries Inc. (Helix Acquisition Holdings) wrapped a non-fungible $95 million first-lien term loan (B2) due Sept. 29, 2024 at pricing of Libor plus 425 basis points with a 0.5% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
RBC Capital Markets is the lead bank on the deal.
Proceeds will be used to fund acquisitions and add cash to the balance sheet.
American Securities is the sponsor.
MW Industries is a Charlotte, N.C.-based manufacturer and designer of engineered compression and other springs, fasteners, and precision components across diverse end markets.
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