Doosan Infracore finalizes $1.3 billion term B at Libor plus 350 bps

By Sara Rosenberg

New York, May 13 - Doosan Infracore Bobcat Holdings firmed pricing on its $1.3 billion seven-year term loan B (Ba3/BB-) at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.

The term loan still has a 1% Libor floor and an original issue discount of 991/2.

Also included in the term loan is 101 soft call protection for one year.

The company's $1.4 billion credit facility provides for a $100 million five-year ABL revolver as well.

J.P. Morgan Securities LLC is the lead bank on the deal.

Proceeds will be used to refinance existing debt.

Doosan is a manufacturer of construction equipment.

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