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Atkore trims spread on $400 million term loan B at Libor plus 200 bps
By Sara Rosenberg
New York, May 19 – Atkore Inc. reduced pricing on its $400 million term loan B (Ba1/BB+/BB+) due 2028 to Libor plus 200 basis points from Libor plus 225 bps, according to a market source.
The term loan still has a 0.5% Libor floor, an original issue discount of 99.5 and 101 soft call protection for six months.
JPMorgan Chase Bank is the lead on the deal.
Proceeds will be used with notes to refinance an existing senior secured term loan due December 2023, to pay related fees and expenses and for general corporate purposes.
Atkore is a Harvey, Ill.-based provider of electrical, safety and infrastructure solutions.
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