Sprint Industrial to launch $15 million add-on term loan on Wednesday

By Sara Rosenberg

New York, April 8 - Sprint Industrial Holdings LLC will hold a call on Wednesday to launch a $15 million add-on first-lien term loan that is priced at Libor plus 575 basis points with a 1.25% Libor floor, in line with the existing first-lien term loan, according to a market source.

The original issue discount on the add-on is not yet available, the source said.

Goldman Sachs Bank USA is the lead bank on the deal.

Proceeds will be used to fund an acquisition.

With the add-on, the company will launch an amendment to allow for the new debt and the acquisition, the source added.

Sprint Industrial is a Houston-based specialized industrial maintenance service provider offering both storage and safety equipment for rental.

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