Camin Cargo Control launches $150 million term loan at 99 OID

By Sara Rosenberg

New York, June 9 – Camin Cargo Control launched on Tuesday its $150 million six-year term loan with original issue discount talk of 99, according to a market source.

As previously reported, pricing on the loan is talked at Libor plus 475 basis points with a 1% Libor floor, and the debt has 101 soft call protection for six months.

Citizens Bank is the lead on the deal.

Proceeds will be used to help fund the buyout of the company by Metalmark Capital.

Commitments are due on June 23, the source said.

Camin Cargo Control is a Linden, N.J.-based provider of inspection and laboratory testing services to the petroleum industry.

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