MW Industries revises $75 million add-on term loan issue price to par

By Sara Rosenberg

New York, April 11 – MW Industries tightened the issue price on its fungible $75 million add-on first-lien term loan (B) to par from 99.75, according to a market source.

Pricing on the add-on term loan and the repricing of the company’s existing $384 million first-lien term loan (B) is unchanged at Libor plus 350 basis points with a 0% Libor floor.

As before, the repricing is offered at par and all of the term loan debt is getting 101 soft call protection for six months.

RBC Capital Markets is the lead bank on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Wednesday, the source said.

Allocations are expected on Thursday.

Proceeds from the add-on will be used to fund an acquisition and the repricing will take the existing term loan down from Libor plus 400 bps with a 0% Libor floor.

MW Industries is a Rosemont, Ind.-based designer and manufacturer of springs and other specialty engineered metal components for diverse end markets.

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