Douglas Dynamics sets price talk on $195 million credit facility

By Sara Rosenberg

New York, March 9 - Douglas Dynamics Inc. launched on Wednesday its $125 million seven-year covenant-light term loan B (B1) with talk of Libor plus 425 basis points with a 1.5% Libor floor and an original issue discount of 99, according to a market source.

And, its $70 million asset-based revolver is being talked at Libor plus 225 bps, the source said.

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

Proceeds will be used to refinance existing debt.

Douglas Dynamics is a Milwaukee-based designer, manufacturer and seller of snow and ice control equipment for light trucks.

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