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Kleinfelder launches $185 million of term loans to investors
By Sara Rosenberg
New York, Nov. 27 – Kleinfelder Group Inc. launched on Tuesday $185 million of term loans, according to a market source.
BNP Paribas Securities Corp. is the lead on the deal.
The debt consists of a $150 million first-lien term loan B that is talked at Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99 and a $35 million second-lien term loan that is talked at Libor plus 875 bps with a 1% Libor floor and a discount of 98, the source said.
Proceeds will be used to help fund the buyout of the company by Wind Point Partners.
Kleinfelder is a San Diego-based engineering, construction management, design and environmental professional services firm.
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