Kleinfelder shifts funds between first- and second-lien term loans

By Sara Rosenberg

New York, Dec. 20 – Kleinfelder Group Inc. upsized its first-lien term loan B to $120 million from $115 million and downsized its second-lien term loan to $30 million from $35 million, according to a market source.

Pricing on the first-lien term loan remained at Libor plus 475 basis points with a 1% Libor floor and an original issue discount of 99.

Pricing on the second-lien term loan ended up slightly wider than talk at launch of Libor plus 875 bps with a 1% Libor floor and a discount of 98, the source added.

The company’s $175 million of credit facilities also include a $25 million revolver.

BNP Paribas Securities Corp. is the lead on the deal.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.