Waupaca Foundry to launch $150 million add-on term loan on Monday

By Sara Rosenberg

New York, Jan. 25 - Waupaca Foundry Inc. will host a lender call at 11 a.m. ET on Monday to launch a $150 million add-on to its existing $225 million term loan, according to a market source.

GE Capital Markets is the lead on the deal.

Pricing on the add-on is Libor plus 450 basis points with a 1.25% Libor floor, in line with existing term loan pricing, the source said.

The offer price on the add-on is still to be determined.

Amortization is 5% per year, same as the existing term loan, the source added.

Proceeds will be used to fund a dividend.

Waupaca Foundry is a Waupaca, Wis.-based producer of gray and ductile iron castings for the automotive, truck, agriculture, construction, hydraulics and commercial vehicle markets.

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