Tecomet launches $135 million incremental term loan at 99.5 OID

By Sara Rosenberg

New York, Feb. 18 – Tecomet (TecoStar Holdings Inc.) launched on Tuesday its fungible $135 million incremental first-lien term loan due May 1, 2024 with original issue discount talk of 99.5, according to a market source.

Pricing on the incremental term loan is Libor plus 350 basis points with a step-down to Libor plus 325 bps at 4x net first-lien leverage and a 1% Libor floor.

Jefferies LLC, Antares Capital and KKR Capital Markets are the lead arrangers on the deal.

Commitments and consents are due at noon ET on Feb. 25, the source added.

Proceeds will be used to fund a shareholder distribution.

Tecomet is a Wilmington, Mass.-based provider of high precision manufacturing solutions serving global medical device and aerospace and defense original equipment manufacturers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.