QualTek launches $290 million term loan at Libor plus 525-550 bps

By Sara Rosenberg

New York, June 21 – QualTek USA LLC launched on Thursday its $290 million seven-year first-lien term loan with price talk of Libor plus 525 basis points to 550 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

Fifth Third Bank is the lead on the deal.

Commitments are due on July 9, the source added.

The company is also getting a $65 million ABL revolver for which PNC is the lead arranger and the sole lender.

Proceeds will be used to help fund the buyout of the company by Brightstar Capital Partners.

QualTek is a King of Prussia, Pa.-based provider of turnkey solutions, including engineering, installation, fulfillment and program management, to the telecommunications and power sectors.

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