MB Aerospace launches $255 million term loan at Libor plus 400 bps

By Sara Rosenberg

New York, Dec. 5 – MB Aerospace Holdings II Corp. launched on Tuesday its $255 million seven-year covenant-light first-lien term loan with price talk of Libor plus 400 basis points with a 1% 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.

The company’s $305 million of secured credit facilities (B2/B) also include a $50 million five-year revolver.

RBC Capital Markets, Societe Generale, Barclays and Citizens Bank are the joint lead arrangers on the deal.

Commitments are due on Dec. 15, the source added.

Proceeds will be used to fund the acquisition of Taiwan-based Asian Compressor Technology Services Co. Ltd. and to refinance existing debt.

Closing is expected in January.

MB Aerospace, a Blackstone portfolio company, is an East Granby, Conn.-based provider of advanced technological solutions to the aerospace and defense industry.

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