Accuride launches add-on term loan B, repricing at Libor plus 550 bps

By Sara Rosenberg

New York, Oct. 25 – Accuride Corp. launched on Wednesday its fungible $90 million add-on term loan B (B) and a repricing of its existing $273 million term loan B (B) with price talk of Libor plus 550 basis points with a 1% Libor floor, according to a market source.

The add-on term loan B is talked with an original issue discount of 99.5 to 99.75, and the repricing is offered at par, the source said.

The term loan debt is getting 101 soft call protection for six months.

RBC Capital Markets is the lead bank on the deal.

Commitments are due on Nov. 3, the source added.

Proceeds from the incremental loan will be used to fund an acquisition, and the repricing will take the existing term loan down from Libor plus 700 bps with a 1% Libor floor.

Accuride is an Evansville, Ind.-based supplier of components to the commercial vehicle industries.

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