Artera launches $775 million term loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, June 9 – Artera Services LLC launched on Wednesday its $775 million incremental first-lien term loan due March 6, 2025 with price talk of Libor plus 350 basis points to 375 bps with a 1% Libor floor and an original issue discount of 99, according to a market source.

The term loan has 101 soft call protection for six months, the source said.

UBS Investment Bank, BofA Securities Inc., BNP Paribas Securities Corp., Deutsche Bank Securities Inc., Mizuho, BMO Capital Markets, MUFG, Citizens Bank, Antares and Jefferies LLC are the bookrunners on the deal.

Commitments are due on June 22, the source added.

Proceeds will be used to fund the acquisitions of Feeney Utility Services Group and K.R. Swerdfeger Construction.

Artera, a portfolio company of Clayton Dubilier & Rice, is an Atlanta-based provider of integrated infrastructure services to the natural gas and electric utility industries. Feeney is a Boston-based provider of maintenance, repair and upgrade services to natural gas utilities. K.R. Swerdfeger is a Pueblo West, Colo.-based heavy civil contractor.

© 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.