Spirit AeroSystems tightens $400 million term loan B OID to 99.5

By Sara Rosenberg

New York, Sept. 29 – Spirit AeroSystems Holdings Inc. revised the original issue discount on its $400 million senior secured term loan B (Ba2/BB-) to 99.5 from talk in the range of 98.5 to 99, according to a market source.

Pricing on the term loan remained at Libor plus 525 basis points with a 0.75% Libor floor.

Allocations are expected on Wednesday, the source said.

BofA Securities Inc., Goldman Sachs Bank USA, Morgan Stanley Senior Funding Inc. and Citigroup Global Markets Inc. are the lead banks on the deal.

Proceeds will be used with $500 million of senior secured notes, upsized from $400 million, to repay in full amounts borrowed under a term loan A and delayed-draw term loan A, and for general corporate purposes.

Spirit AeroSystems is a Wichita, Kan.-based designer and builder of aerostructures for both commercial and defense customers.

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