Capstone Logistics firms first-lien term loan at Libor plus 450 bps

By Sara Rosenberg

New York, Oct. 3 – Capstone Logistics LLC finalized pricing on its $182.5 million seven-year first-lien term loan (B2/B) at Libor plus 450 basis points, the low end of the Libor plus 450 bps to 475 bps talk, according to a market source.

As before, the first-lien term loan has a 1% Libor floor, an original issue discount of 99 and 101 soft call protection for six months.

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.

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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