MRO raises spread on $225 million term loan to Libor plus 525 bps

By Sara Rosenberg

New York, Oct. 20 – MRO Holdings Inc. increased pricing on its $225 million six-year first-lien term loan (B2/B+) to Libor plus 525 basis points from Libor plus 500 bps, according to a market source.

Also, the 101 soft call protection on the term loan was extended to one year from six months, the source said.

The term loan still has a 1% Libor floor, an original issue discount of 99 and amortization of 1% per annum.

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

Commitments were scheduled to be due at noon ET on Friday, the source added.

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

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

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