Wabash launches $188 million term loan B at Libor plus 225 bps

By Sara Rosenberg

New York, Nov. 7 – Wabash National Corp. held a lender call at 10 a.m. ET on Tuesday to launch a $188 million covenant-light term loan B due March 19, 2022 that is talked at Libor plus 225 basis points with a 0% Libor floor and a par issue price, according to a market source.

The term loan includes 101 soft call protection for six months and amortization of 1% per annum, the source said.

Wells Fargo Securities LLC is the lead arranger on the deal.

Commitments are due at 3 p.m. ET on Nov. 14, the source added.

Proceeds will be used to reprice an existing term loan B down from Libor plus 275 bps with a 0% Libor floor.

Wabash is a Lafayette, Ind.-based diversified industrial manufacturer and a producer of semi-trailers and liquid transportation systems.

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