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Sabre Industries lifts spread on term loan to Libor plus 575 bps
By Sara Rosenberg
New York, Aug. 24 - Sabre Industries Inc. increased pricing on its $130 million term loan to Libor plus 575 basis points from talk of Libor plus 500 bps to 525 bps, according to a market source.
As before, the term loan has a 1.25% Libor floor and an original issue discount of 981/2.
The company's $190 million credit facility (B1/B+) also includes a $60 million revolver.
BNP Paribas Securities Corp. and PNC Capital Markets LLC are the lead banks on the deal.
Proceeds will be used to help fund Kohlberg's buyout of the company from Corinthian Capital Group LLC.
Net leverage is 2.8 times through the credit facility and 4.3 times total.
Sabre is an Alvarado, Texas-based tower, pole and shelter manufacturer.
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