Aggreko prices €300 million Euribor plus 525 bps fungible term loan add-on at 97.5

By Paul A. Harris

Portland, Ore., Feb. 17 – Aggreko LLC priced a non-fungible €300 million incremental term loan due August 2026 (B1/BB-/BB+) with a 525 basis points spread to Euribor at 97.5, according to a market source.

The borrowing entities are Aggreko Holdings Inc. and Albion Financing 3 Sarl.

Left lead Barclays and Goldman Sachs are the physical bookrunners and global coordinators. HSBC is also a global coordinator. GLAS USA is the administrative agent.

Proceeds will be used to refinance some debt, including debt related to the acquisition of Resolute Industrial from AE Industrial Partners LP for $440 million.

Aggreko is a Glasgow, U.K.-based provider of mobile power, heating and cooling solutions. Resolute Industrial is a provider of specialized temporary heating, ventilation, air conditioning and refrigeration solutions.

Its sponsors are I Squared Capital and TDR Capital.

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