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Waupaca Foundry widens discount on $125 million add-on loan to 99½
By Sara Rosenberg
New York, June 14 - Waupaca Foundry Inc. revised the original issue discount on its $125 million add-on term loan (B2/B+) to 99½ from talk of 99¾ to par, according to a market source.
Pricing on the loan is Libor plus 350 basis points with a 1% Libor floor, which is in line with existing term loan pricing.
The add-on has 101 soft call protection for six months, and the existing term loan had its 101 soft call premium reset for the same period.
GE Capital Markets is leading the deal.
Proceeds are being 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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