Wilsonart firms spread on $725 million term loan at Libor plus 300 bps

By Sara Rosenberg

New York, April 11 - Wilsonart LLC set pricing on its $725 million covenant-light term loan at Libor plus 300 basis points, the tight end of the Libor plus 300 bps to 325 bps talk, according to a market source.

The loan still has a 1% Libor floor, a par offer price and 101 soft call protection for six months.

Deutsche Bank Securities Inc. is the lead bank on the deal.

Proceeds will be used to reprice the existing $725 million term loan from Libor plus 425 bps with a 1.25% Libor floor.

Wilsonart is a Temple, Texas-based maker of decorative surfaces products.

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