Sabre Industries flexes $255 million term loan to Libor plus 475 bps

By Sara Rosenberg

New York, Feb. 24 – Sabre Industries Inc. reduced pricing on its $255 million seven-year covenant-light term loan to Libor plus 475 basis points from talk of Libor plus 500 bps to 525 bps, according to a market source.

The term loan still has a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

The company’s $320 million credit facility (B+) also provides for a $65 million revolver.

Recommitments were due by the end of the day on Tuesday, the source said.

BNP Paribas Securities Corp., Citizens Financial Group and SunTrust Robinson Humphrey Inc. are the leads on the deal.

Proceeds will be used to refinance existing debt and fund an acquisition.

Sabre is an Alvarado, Texas-based turnkey provider of engineered structures and related services for the electric transmission & distribution and wireless communications 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.