SMB Shipping shops $359 million term loan at Libor plus 375 bps

By Sara Rosenberg

New York, Sept. 8 – SMB Shipping Logistics is talking its roughly $359 million first-lien term loan at Libor plus 375 basis points with a 1% Libor floor and a par issue price, according to a market source.

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

Antares Capital is the lead on the deal that launched with a call on Thursday.

Commitments are due on Sept. 14, the source added.

Proceeds will be used to refinance an existing $359 million first-lien term loan.

SMB, a Ridgemont Equity Partners portfolio company, is a Dallas-based provider of shipping and freight services to small- and medium-sized businesses. The company was formed in February 2017 through the combination of Unishippers and Worldwide Express Global Logistics.

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