MW Industries tightens $30 million add-on term loan OID to 99.875

By Sara Rosenberg

New York, July 25 – MW Industries Inc. revised the original issue discount on its fungible $30 million add-on first-lien term loan to 99.875 from 99.75, according to a market source.

Pricing on the add-on first-lien term loan is Libor plus 350 basis points with a 0% Libor floor, which matches existing term loan pricing.

RBC Capital Markets is the lead bank on the deal.

Commitments are due at noon ET on Thursday, accelerated from 5 p.m. ET on Thursday, the source said.

Allocations are expected on Thursday afternoon.

Proceeds will be used to fund an acquisition and to repay revolving credit facility borrowings.

Currently, the first-lien term loan is sized at $457 million.

MW Industries is a Rosemont, Ind.-based designer and manufacturer of springs and other specialty engineered metal components for diverse end 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.