HHI Group talks $505 million term loan B at Libor plus 450 to 475 bps

By Sara Rosenberg

New York, Sept. 19 - HHI Group Holdings LLC launched its $505 million term loan B on Wednesday with price talk of Libor plus 450 basis points to 475 bps with a 1.25% Libor floor and an original issue discount of 99, according to a market source.

The company's $580 million credit facility (B2) also includes $75 million revolver.

Goldman Sachs & Co., UBS Securities LLC, Macquarie Capital and Nomura are leading the deal.

Proceeds will be used to help fund the buyout of the company by American Securities from KPS Capital Partners LP and MC Capital Inc.

HHI is a Royal Oak, Mich.-based manufacturer of wheel bearings, engine timing drive systems and forged parts for various power train and wheel-end applications.

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