MHS Holdings finalizes $285 million add-on term loan B at 99.75 OID

By Sara Rosenberg

New York, Dec. 10 – MHS Holdings Inc. (Deliver Buyer Inc.) set the original issue discount on its fungible $285 million add-on first-lien term loan B due May 1, 2024 (B3/B-) at 99.75, the tight end of the 99.5 to 99.75 talk, according to a market source.

Pricing on the add-on term loan is Libor plus 500 basis points with a 0% Libor floor, in line with the existing term loan B.

RBC Capital Markets is the lead arranger and administrative agent on the deal.

Proceeds will be used to refinance an existing $282 million term loan B-2.

Pro forma for the transaction, the term loan B totals about $892 million.

Thomas H. Lee Partners LP is the sponsor.

MHS is a Mt. Washington, Ky.-based material handling systems integration and automation provider.

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