CAMP sets pricing on $255 million term loan at Libor plus 400 bps

By Sara Rosenberg

New York, Sept. 27 - CAMP International Holding Co. finalized pricing on its $255 million covenant-light first-lien term loan at Libor plus 400 basis points, the tight end of the Libor plus 400 bps to 425 bps talk, according to a market source.

As before, the loan has a 1.25% Libor floor, a par offer price and 101 soft call protection for one year.

The commitment deadline was moved up to noon ET on Thursday from Friday, the source added.

Deutsche Bank Securities Inc. is the lead bank on the deal.

Proceeds will be used to reprice the existing $255 million term loan from Libor plus 525 bps with a 1.25% Libor floor. Existing lenders are getting paid out at 101 due to the presence of call protection.

CAMP is a Ronkonkoma, N.Y.-based provider of maintenance tracking for business aviation.

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