Adient launches $635 million term loan B-2 at SOFR plus 275 bps

By Sara Rosenberg

New York, Jan. 22 – Adient held a lender call at noon ET on Monday to launch a $635 million seven-year term loan B-2 that is talked at SOFR plus 275 basis points with a 0% floor and an original issue discount of 99.5, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

BofA Securities Inc. is the left lead arranger on the deal.

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

Proceeds will be used to refinance an existing term loan B-1 due April 8, 2028 and to pay related fees, expenses and premiums.

Adient is a Plymouth, Mich.-based manufacturer of automotive seating.

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