Duravant launches $130 million incremental term loan at 98.79 OID

By Sara Rosenberg

New York, Feb. 13 – Duravant LLC (Engineered Machinery Holdings Inc.) was scheduled to hold a lender call at 2 p.m. ET on Monday to launch a fungible $130 million incremental first-lien term loan due May 21, 2028 (B1/B-) with original issue discount talk of 98.79, according to a market source.

Pricing on the incremental term loan is Libor plus 350 basis points with a 25 bps step-up at more than 5x senior secured first-lien net leverage and a 0.75% floor, in line with existing term loan pricing.

Jefferies LLC is the left lead arranger on the deal.

Commitments are due at 2 p.m. ET on Thursday, the source added.

Proceeds will be used to repay outstanding revolving credit facility borrowings.

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

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