SunSource launches $235 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, Nov. 27 – SunSource Holdings Inc. launched on Monday its $235 million seven-year first-lien term loan (B2/B) with price talk of Libor plus 375 basis points with a 1% Libor floor and an original issue discount of 99.5, according to a market source.

Barclays, Deutsche Bank Securities Inc., Credit Suisse Securities (USA) LLC, ING, Natixis and UBS Investment Bank are the bookrunners on the deal.

Commitments are due at noon ET on Dec. 6, the source added.

Proceeds will be used to help fund the buyout of the company by Clayton, Dubilier & Rice.

SunSource is an Addison, Ill.-based distributor of fluid power and motion control technologies.

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