EnTrans ups spread on $255 million term loan to Libor plus 600 bps

By Sara Rosenberg

New York, Oct. 29 – EnTrans International LLC increased pricing on its $255 million seven-year first-lien term loan (B3/B) to Libor plus 600 basis points from talk in the range of Libor plus 525 bps to 550 bps, according to a market source.

Also, the 101 soft call protection under the term loan was extended to one year from six months, the source said.

As before, the term loan has a 0% Libor floor and an original issue discount of 99.

Credit Suisse Securities (USA) LLC and Barclays are the leads on the deal.

Recommitments were scheduled to be due at 5 p.m. ET on Monday, the source added.

Proceeds will be used to refinance existing debt.

EnTrans is an Athens, Tenn.-based producer of aluminum and stainless steel tank trailers and related parts and services.

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