OEConnection shops $300 million term loan at Libor plus 350 bps

By Sara Rosenberg

New York, June 6 – OEConnection LLC is talking its $300 million term loan at Libor plus 350 basis points with a par issue price, according to a market source.

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

Proceeds will be used to reprice an existing term loan down from Libor plus 400 bps.

Commitments are due on June 15, the source added.

OEConnection, a Providence Equity Partners LLC portfolio company, is a Richfield, Ohio-based provider of SaaS solutions that help drive genuine OE parts sales and services across the automotive system.

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