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Sprint Industrial reveals tranching on $232.5 million credit facility
By Sara Rosenberg
New York, April 23 - Sprint Industrial Holdings LLC revealed structure on its $232.5 million credit facility with its Tuesday bank meeting, according to sources.
The facility consists of a $12.5 million revolver (B2/B+), a $150 million six-year first-lien term loan (B2/B+) and a $70 million seven-year second-lien term loan (Caa2/CCC+), sources said.
Goldman Sachs & Co. is the lead bank on the deal.
Proceeds will be used to refinance existing debt.
Sprint Industrial is a Houston-based specialized industrial maintenance service provider offering both storage and safety equipment for rental.
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