Array Canada readies launch of $40 million add-on term loan for Friday

By Sara Rosenberg

New York, May 4 – Array Canada Inc. is scheduled to hold a lender call at 12:30 p.m. ET on Friday to launch a fungible $40 million add-on term loan and discuss first quarter 2017 results, according to a market source.

UBS Investment Bank is the left lead on the deal.

Pricing on the loan is Libor plus 500 basis points with a 1% Libor floor.

Original issue discount talk on the add-on term loan is still to be determined, the source said.

Proceeds will be used for acquisition financing.

Array is a Toronto-based provider of retail merchandising displays and store fixtures to the cosmetics industry.

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