Dayton Superior trims term loan B to $210 million, raises pricing

By Sara Rosenberg

New York, Nov. 2 – Dayton Superior Corp. downsized its term loan B to $210 million from $225 million and increased pricing to Libor plus 800 basis points from Libor plus 700 bps, according to a market source.

Also, the hard call protection was changed to 102 in year one and 101 in year two from just 101 for one year, and the maturity was shortened to five years from six years, the source said.

The term loan B still has a 1% Libor floor and an original issue discount of 97.

Commitments are due by 3 p.m. ET on Thursday, the source added.

Deutsche Bank Securities Inc. and Jefferies Finance LLC are the bookrunners on the deal.

Proceeds will be used to refinance existing debt.

Dayton Superior is a Miamisburg, Ohio-based supplier to the non-residential concrete construction industry.

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