Daseke finalizes $400 million term loan B at discount of 99.5

By Sara Rosenberg

New York, March 8 – Daseke Inc. firmed the original issue discount on its $400 million seven-year covenant-lite term loan B (B2/B) at 99.5, the tight end of revised talk of 99 to 99.5 and tighter than initial talk of 99, according to a market source.

Pricing on the term loan is Libor plus 400 basis points with a 0.75% Libor floor, and the debt has 101 soft call protection for six months.

Earlier in syndication, the spread on the term loan was reduced from talk in the range of Libor plus 425 bps to 450 bps.

JPMorgan Chase Bank is the lead on the deal.

Proceeds will be used to refinance existing debt.

Daseke is an Addison, Tex.-based owner and consolidator of flatbed and specialized transportation.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.