MRO finalizes $360 million term loan B at Libor plus 500 bps

By Sara Rosenberg

New York, May 30 – MRO Holdings Inc. firmed pricing on its $360 million senior secured term loan B (B2/BB-) at Libor plus 500 basis points, the high end of the Libor plus 475 bps to 500 bps talk, according to a market source.

As before, the term loan has a 0% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.

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

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

Closing is expected on Friday.

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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