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

By Sara Rosenberg

New York, May 19 – Capstone Logistics LLC launched on Tuesday its $127.5 million incremental first-lien term loan (B1/B-) due October 2021 with price talk of Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, according to a market source.

The company is also getting a $37.5 million incremental second-lien term loan (Caa2/CCC).

Goldman Sachs Bank USA is the left lead on the deal.

Proceeds will be used to fund the acquisition of Pinnacle Workforce Logistics.

Capstone Logistics is a Norcross, Ga.-based provider of outsourced supply chain solutions at distribution centers catering to the grocery, foodservice, retail and automotive industries. Pinnacle Workforce is a Chino Hills, Calif.-based workforce logistics provider.

© 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.