Wesco launches $350 million of pro rata debt at Libor plus 300 bps

By Sara Rosenberg

New York, March 16 - Wesco Aircraft Hardware Corp. launched its $150 million five-year revolver and $200 million five-year term loan A on Wednesday with price talk of Libor plus 300 basis points, according to a market source.

The pro rata tranches have no Libor floor and are being offered at an original issue discount of 99, the source said.

The company's $765 million credit facility also includes a $415 million six-year term loan B, which was not launched at this time because of market conditions.

Bank of America Merrill Lynch and Barclays are the joint lead arrangers and bookrunners on the deal, with J.P. Morgan, Morgan Stanley, RBC and Sumitomo.

Proceeds will be used to refinance existing debt.

Wesco is a Valencia, Calif.-based integrated inventory management services provider and distributor of hardware and other components to the aerospace industry.

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