Waupaca ups add-on term loan to $200 million, tightens offer to par

By Sara Rosenberg

New York, Feb. 6 - Waupaca Foundry Inc. upsized its add-on term loan (B+) to $200 million from $150 million and revised the offer price to par from 991/2, according to a market source.

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

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

GE Capital Markets is the lead on the deal.

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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