MRO Holdings readies launch of $225 million term loan for Thursday

By Sara Rosenberg

New York, Oct. 4 – MRO Holdings Inc. is scheduled to hold a bank meeting at 9:30 a.m. ET in New York on Thursday to launch a $225 million six-year first-lien term loan, according to a market source.

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

Price talk on the term loan is Libor plus 500 basis points with a 1% Libor floor and an original issue discount of 99, the source said.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Expected term loan ratings are B2/B+.

Commitments are due at 5 p.m. ET on Oct. 19, the source added.

MRO Holdings is a provider of maintenance and repair services to the airline and freight carrier 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.