Ilpea Industries talks $220 million term B at Libor plus 425-450 bps

By Sara Rosenberg

New York, May 27 – Ilpea Industries Inc. launched on Thursday its $220 million term loan B with price talk of Libor plus 425 basis points to 450 bps with a 0.5% to 0.75% Libor floor and an original issue discount of 99 to 99.5, according to a market source.

PNC Bank is the lead on the deal.

Proceeds will be used to refinance existing debt and fund a dividend.

Ilpea is a Scottsburg, Ind.-based producer of custom plastic extrusions for the appliance and construction industries.

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