Duravant launches $160 million term loan at Libor plus 400-425 bps

By Sara Rosenberg

New York, Jan. 9 – Duravant LLC (Engineered Machinery Holdings Inc.) launched on Wednesday its non-fungible $160 million incremental first-lien term loan due July 2024 with price talk of Libor plus 400 basis points to 425 bps with a 0% Libor floor and an original issue discount of 98, according to a market source.

The incremental term loan has 101 soft call protection for six months.

Jefferies LLC, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Antares Capital and Societe Generale are the bookrunners on the deal.

Commitments are due at 2 p.m. ET on Jan. 16, the source said.

Proceeds will be used with an equity contribution from the sponsor to fund the acquisition of Wulftec International.

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

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