WernerCo shops $265 million term loan at Libor plus 375-400 bps

By Sara Rosenberg

New York, June 13 – WernerCo is talking its $265 million seven-year term loan (B2) at Libor plus 375 basis points to 400 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

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

J.P. Morgan Securities LLC is the lead bank on the deal that launched with a bank meeting on Monday.

Commitments are due on June 22, the source added.

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

Closing is subject to regulatory approval.

WernerCo is a Schaffhausen, Switzerland-based manufacturer and distributor of access products, fall protection equipment, secure storage systems and light duty construction equipment.

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