Duravant readies launch of $1.51 billion of term loans for Thursday

By Sara Rosenberg

New York, July 28 – Duravant LLC (Engineered Machinery Holdings Inc.) is scheduled to hold a lender call at 11:30 a.m. ET on Thursday to launch $1.51 billion of term loans, according to a market source.

Jefferies LLC is the left lead arranger on the deal.

The debt consists of a $1.135 billion incremental first-lien term loan due May 21, 2028 and a fungible $375 million incremental second-lien term loan due May 21, 2029, the source said.

The incremental first-lien term loan has 101 soft call protection for six months, and the incremental second-lien term loan has the same 102, 101 hard call protection as the existing second-lien loan.

Proceeds will be used to refinance existing near-term maturities and fund a shareholder distribution.

Duravant is a Downers Grove, Ill.-based automation solutions company providing highly engineered equipment and related aftermarket parts and services.

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