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MHI Holdings firms $215 million incremental term loan at 98.79 OID
By Sara Rosenberg
New York, Oct. 23 – MHI Holdings, LLC finalized the original issue discount on its fungible $215 million incremental first-lien term loan B (B) at 98.79, the wide end of the 98.79 to 99 talk, according to a market source.
Pricing on the incremental term loan is Libor plus 500 basis points with a 0% Libor floor.
The incremental term loan has 101 soft call protection for six months, the source said.
BofA Securities, Inc., BNP Paribas Securities Corp., Citizens Bank and Mizuho are the leads on the deal.
Proceeds will be used to fund a dividend.
MHI is a provider of critical ship repair services and commercial- and defense-related fabrication services.
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