DexKo Global changes $225 million first-lien term loan OID to 93

By Sara Rosenberg

New York, Dec. 1 – DexKo Global Inc. revised original issue discount talk on its non-fungible $225 million first-lien term loan (B2/B-) due October 2028 to a range of 92 to 93 from a range of 90 to 91, and then firmed the discount at 93, according to a market source.

Pricing on the term loan remained at SOFR plus 650 basis points with a step-up to SOFR plus 750 bps on Oct. 5, 2023 and a 0.5% floor.

The term loan has no call protection and is co-terminus with the company’s existing U.S. term loan.

Credit Suisse Securities (USA) LLC is the adviser on the deal.

The term loan is a secondary sell-down of American Trailer World’s position in a DexKo seller term loan related to DexKo’s acquisition of TexTrail Inc., a supplier of trailer parts, accessories, tires and wheels, from American Trailer.

DexKo is a Novi, Mich.-based producer of engineered products critical to safety and performance of towable industrial trailer and recreational trailer applications.

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