Douglas Dynamics talks term loan repricing at Libor plus 350-375 bps

By Sara Rosenberg

New York, Jan. 31 – Douglas Dynamics Inc. is seeking a repricing of its $315.5 million term loan that is talked at Libor plus 350 basis points to 375 bps with a 1% Libor floor and a par issue price, according to a market source.

The repriced term loan has 101 soft call protection for six months, the source said.

J.P. Morgan Securities LLC and Wells Fargo Securities LLC are the lead banks on the deal.

The repricing will take the term loan down from Libor plus 425 bps with a 1% Libor floor.

Commitments are due on Monday, the source added.

Douglas Dynamics is a Milwaukee-based manufacturer of vehicle attachments and equipment.

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