Indalex $15 million incremental term loan priced at Libor plus 750 bps

By Sara Rosenberg

New York, Nov. 26 - Indalex Holdings Finance Inc. funded its $15 million incremental term loan due Feb. 2, 2011 with pricing of Libor plus 750 basis points with a 3.25% Libor floor, according to an 8-K filed with the Securities and Exchange Commission on Wednesday.

Pricing on the debt will increase by 75 bps if average excess availability falls below $35 million.

Proceeds were used to reduce revolver borrowings.

JPMorgan is the administrative agent on the deal that was funded on Nov. 25.

Indalex is a Chicago-based producer of soft alloy extrusion products and an aluminum extruder.

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