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Unifrax talks $120 million term loan B at Libor plus 375-400 bps
By Sara Rosenberg
New York, June 4 – Unifrax (ASP Unifrax Holdings Inc.) launched on Tuesday its $120 million incremental covenant-lite term loan B due Dec. 14, 2025 with price talk of Libor plus 375 basis points to 400 bps with a 0% Libor floor and an original issue discount of 97.5, according to a market source.
The incremental term loan has 101 soft call protection for six months, the source said.
Morgan Stanley Senior Funding Inc. and Stifel, Nicolaus & Co. are the joint bookrunners on the deal.
Commitments are due on June 11, the source added.
Proceeds will be used to fund an acquisition.
Unifrax is a Tonawanda, N.Y.-based supplier of high-performance specialty fibers and inorganic materials used in emission control, thermal management, filtration, battery and fire protection applications.
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