Kleinfelder proposed credit facilities include $25 million revolver

By Sara Rosenberg

New York, Nov. 28 – Kleinfelder Group Inc. is seeking a $25 million revolving credit facility in addition to its $115 million first-lien term loan B and $35 million second-lien term loan, according to a market source.

Talk on the first-lien term loan is Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99, and talk on the second-lien term loan is Libor plus 875 bps with a 1% Libor floor and a discount of 98.

The first-lien term loan has 101 soft call protection for six months, and the second-lien term loan has call protection of 102 in year one and 101 in year two, the source said.

BNP Paribas Securities Corp. is the lead on the deal that launched with a lender meeting on Monday.

Commitments are due on Dec. 10, the source added.

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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