Ozburn-Hessey launches $270 million term loan at Libor plus 550 bps

By Sara Rosenberg

New York, May 8 - Ozburn-Hessey Holding Co. LLC launched on Wednesday its $270 million six-year term loan with price talk of Libor plus 550 basis points with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The loan has 101 soft call protection for two years, the source said.

Bank of America Merrill Lynch, Morgan Stanley Senior Funding Inc. and GE Capital Markets are leading the deal.

Proceeds will be used to refinance existing term loans.

Ozburn-Hessey is a Brentwood, Tenn.-based third party logistics provider.

© 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.