Osmose launches $760 million term loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, June 2 – Osmose Utilities Services Inc. launched on Thursday its $760 million seven-year first-lien term loan (B2/B) with price talk of Libor plus 350 basis points to 375 bps with a 25 bps step-down at 0.5x inside closing date net first-lien secured leverage, a 0.5% 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 and amortization of 1% per annum, the source said.

Goldman Sachs Bank USA, RBC Capital Markets, UBS Investment Bank and Societe Generale are the lead arrangers on the deal.

Commitments are due at 5 p.m. ET on June 16, the source added.

The company is also getting a $270 million privately placed second-lien term loan.

Proceeds will be used to refinance the company’s existing capital structure and fund a distribution to shareholders.

EQT Infrastructure is the sponsor.

Osmose Utilities is a Peachtree City, Ga.-based provider of structural integrity management and resiliency services for utility and telecommunications infrastructure within the United States.

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