Capstone Logistics launches first-lien loan at Libor plus 450-475 bps

By Sara Rosenberg

New York, Sept. 17 – Capstone Logistics LLC launched on Wednesday its $182.5 million seven-year first-lien term loan (B2/B) with price talk of Libor plus 450 basis points to 475 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The first-lien term loan has 101 soft call protection for six months, the source said.

The company’s $277.5 million senior secured credit facility also includes a $30 million five-year revolver (B2/B) and a $65 million eight-year second-lien term loan (Caa2/CCC+) that was privately placed.

Commitments are due on Oct. 1, the source added.

Goldman Sachs Bank USA, BNP Paribas Securities Corp. and Fifth Third Securities Inc. are the lead banks on the deal.

Proceeds will be used to help fund the buyout of the company by Jordan Co.

Capstone is a Peachtree Corners, Ga.-based performance workgroup partner.

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