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Mannington Mills talks $261 million term B at Libor plus 350 bps
By Sara Rosenberg
New York, June 10 – Mannington Mills Inc. launched on Thursday its roughly $261 million term loan B with price talk of Libor plus 350 basis points with a 0% Libor floor and a par issue price, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
RBC Capital Markets is the left lead on the deal.
Commitments are due at 5 p.m. ET on Tuesday, the source added.
Proceeds will be used to reprice an existing term loan B down from Libor plus 400 bps with a 0% Libor floor.
Mannington Mills is a Salem, N.J.-based manufacturer of flooring products for the commercial and residential construction markets.
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