SeaStar talks $272 million term B repricing at Libor plus 350-375 bps

By Sara Rosenberg

New York, Feb. 8 – SeaStar Solutions held a lender call at 1:30 p.m. ET on Wednesday to launch a repricing of its $272 million term loan B that is talked at Libor plus 350 basis points to 375 bps with a 1% Libor floor and a par issue price, according to a market source.

The repriced loan has 101 soft call protection for six months, the source said.

RBC Capital Markets is the lead bank on the deal.

The repricing will take the term loan B down from Libor plus 425 bps with a 1% Libor floor.

Commitments are due at noon ET on Feb. 15, the source added.

SeaStar is a Litchfield, Ill.-based manufacturer and distributor of marine steering and control systems and engine and drive parts.

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