GCP Applied to launch $274 million term loan repricing on Friday

By Sara Rosenberg

New York, Aug. 11 – GCP Applied Technologies Inc. is scheduled to hold a lender call at 9:30 a.m. ET on Friday to launch a repricing of its $274 million term loan due February 2022, according to a market source.

The repriced loan is talked at Libor plus 325 basis points with a 0.75% Libor floor and a par issue price, the source said.

Included in the repriced term loan is 101 soft call protection for six months.

Deutsche Bank Securities Inc. is the bookrunner on the deal.

Commitments are due at noon ET on Aug. 18, the source added.

Current pricing on the term loan is Libor plus 450 bps with a 0.75% Libor floor.

GCP is a Cambridge, Mass.-based provider of products and technology solutions in the specialty construction chemicals, specialty building materials and packaging sealants and coating industries.

© 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.