MRO talks $360 million term loan B at Libor plus 475-500 bps

By Sara Rosenberg

New York, May 15 – MRO Holdings Inc. launched on Wednesday its $360 million senior secured term loan B (BB-) with price talk of Libor plus 475 basis points to 500 bps with a 0% Libor floor and an original issue discount of 99.5, according to a market source.

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

RBC Capital Markets and Credit Suisse Securities (USA) LLC are the leads on the deal.

Commitments are due at 5 p.m. ET on May 29, the source added.

Proceeds will be used to refinance existing debt and fund a distribution to shareholders.

Closing is expected on May 31.

Caoba Capital is the sponsor.

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

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